We are pleased the proposed general rate increase for electric customers will be considerably less than we originally expected. Energy prices have been rising dramatically throughout the nation during the past year and it is gratifying that we are able to announce an adjustment that is more favorable to our customers.

Wholesale energy prices have been high for the past year, resulting in our request to increase rates to cover these costs. Energy markets have remained volatile, increasing nearly three-fold at times over the past two years.

They're (multi-family dwellings) less expensive to serve.

We are pleased the proposed generate rate increase will be considerably less than we originally expected.