The Seattle City Council unanimously approved a budget for Seattle City Light today that will lower customers' energy costs in 2011, followed by a modest increase in 2012. The Seattle City Council unanimously approved a budget for Seattle City Light today that will lower customers’ energy costs in 2011, followed by a modest increase in 2012.
The approved 2011-2012 budget removes a 4.5 percent temporary surcharge on rates that was added this year to help fund a rate stabilization account that is designed to offset volatility in revenues from surplus energy sales. The budget also raises rates by 4.3 percent for 2011 and 3.2 percent in 2012.
For the average residential customer, those changes mean a 10 cent reduction in monthly energy costs for 2011 and a $2 increase in monthly costs for 2012.