Building Back Better. Another potential increase to our insanely high cost of living. The San Diego County Water Authority is considering increasing the price of WATER. They say inflation is to blame.
The San Diego County Water Authority Board of Directors will have a public hearing and vote Thursday about proposed increases of 8.2% or 9.5% in wholesale water rates for 2024.
According to a board statement, after reviewing additional information, the Water Authority’s Finance Planning Work Group recommended another approach — a rate increase of 9.5% that would meet the board’s financial policies. The board previously announced a planned withdrawal of nearly $35 million from the rate stabilization fund by July 2024 to provide ratepayer relief, but which will also “bring the fund to its lowest level in more than a decade.” The fund was created in 1990 to avoid rate spikes — particularly those driven by reduced water sales following abnormally wet weather or mandatory cutbacks.
Kerl said the authority has taken budget- and rate-control measures for the past several years, leaving fewer options this year. Those actions have included front-loading savings on debt-refinancings.
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