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September 1, 2014, 2:32 am
970 WMAY News

Houston Expects To Seek Another CWLP Electric Rate Hike Early Next Year


Springfield Mayor Mike Houston is warning that another electric rate hike may be inevitable within the next year. 

 

Aldermen approved an increase of 4.75 percent last year and another 2-percent this year… a hike that Houston calls a “small band-aid” for the electric division’s cash flow problems. 

 

Appearing live on 970 WMAY’s “Jim Leach Show,” the mayor said the utility will try to get through this year by moving funds around to cover expenses.  But he expects that next year’s city budget will have to include another increase in electric rates in order to meet expenses and pay the utility’s debt service.

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