Working for a safe, affordable, vibrant, innovative, and interconnected city.
Learn More
Seattle.gov Home Page
Seattle.gov This Department
Link to Seattle City Light Home Page Link to Seattle City Light Home Page Link to Seattle City Light About Us Page Link to Seattle City Light Contact Us Page
Lighting Seattle since 1905 Jorge Carrasco, Superintendent
Ross Dam

Current
SCL News Releases

Since January 2003


Archived
SCL News Releases

Prior to January 2003


Seattle City Light Newsroom

City of Seattle News Releases

News Releases
   Logo of the City of Seattle, WA, USA   Seattle City Light

            News Release




Subject:   City Light trims rates in time for winter
For Immediate Release:   
10/31/2005  2:30:00 PM
For More Information Contact:
Scott Thomsen  (206) 386-4233

City Light trims rates in time for winter
Wholesale savings passed on to homes and businesses

SEATTLE - Mayor Greg Nickels announced good news for City Light ratepayers today: the utility will trim rates for homes and businesses thanks to a drop in wholesale power costs.

City Light bills will drop about 2 percent for residential customers and about 2.6 percent for high-demand industrial customers. The utilitys rates have gone down 4 percent since March 2002 and will be as low or lower than any other utility in the Puget Sound region.

The November decrease is a relatively small one, but every bit helps when the cost of natural gas and heating oil are soaring, Nickels said. Weve put City Light back on solid financial ground and the hard work is paying off for the utility and the ratepayers.

City Light is taking advantage of a slight decrease in the Bonneville Power Administrations wholesale power rates and passing the savings to customers. With the November decrease, City Light projects its residential rate will average about 6.54 cents per kilowatt-hour over the course of the next year.

City Light residential customers now pay an average of about $50 per month for electricity. The 2 percent decrease means a drop of about $1 in the average monthly cost of electrical service.

Tacoma Power increased rates an average 5.2 percent in April 2005, and Puget Sound Energy residential electric rates are scheduled to increase 4.4 percent Nov. 1. Snohomish County Public Utility rates are well above City Lights.

Its fortunate that we can give customers a bit of a break while staying on track to meet the goals of our financial policies, said City Light Superintendent Jorge Carrasco.

The utilitys financial policies, adopted earlier this year, call for reducing the long-term debt-to-capitalization ratio to 60 percent by the end of 2010. Each year, City Lights goal is to have enough operating revenue to cover debt service twice over and contribute to capital expenditures. The utility has reduced outstanding long-term debt from about $1.7 billion to about $1.5 billion since 2001.

Visit the mayors web site at www.seattle.gov/mayor. Get the mayors inside view on initiatives to promote transportation, public safety, economic opportunity and healthy communities by signing up for The Nickels Newsletter at www.seattle.gov/mayor/newsletter_signup.htm

- 30 -

Office of the Mayor

 

Current
SCL News Releases

Since January 2003


Archived
SCL News Releases

Prior to January 2003


Seattle City Light Newsroom

City of Seattle News Releases

Click here for more contact information! Customer Service
Call (206) 684-3000


The Seattle City Light Web Team:

Seattle City Light -- 700 5th Avenue, Suite 3200, Seattle, WA 98104-5031 -- 206.684.3000
Mailing address: 700 5th Avenue, Suite 3200, P.O. Box 34023 Seattle, WA 98124-4023