How we got here
NBU is increasing rates to maintain reliability and sustainability of services while upgrading aging infrastructure, said CEO Ryan Kelso in the release.
“This annual adjustment is vital for maintaining the reliability and sustainability of our utility services,” Kelso said. “It also allows us to upgrade or replace aging infrastructure that has been serving our longtime customers for decades.”
The update
The average residential bill, according to a July 26 news release, will increase from $243.62 in FY 2023 to $255.12 in FY 2024.How we got here
NBU’s two-year rate plan, which began in FY 2023-24, funds nearly $1 billion in capital projects over five years to keep up with growth, according to previous reporting.
The utility company is charging developers maximum impact fees, spreading out rate changes to avoid large year-over-year increases, and offering assistance programs and rebates to help customers manage their bills.
