The Seattle City Council approved the Seattle City Light 2 year update of its on-going 6 year Strategic Plan on June 30th. The updated Plan calls for an average 4.4% annual increase in the utility’s revenue requirements over the planning period. The newly adopted Plan also provides for initial work on the SCL South Service Center structure which is located in a vulnerable earthquake zone. In addition, the Plan calls for new capital spending for distribution automation technology that will help the utility monitor and manage its distribution system in real time. Finally, the Plan makes some changes in the utility’s approach to budgeting for anticipated net wholesale revenues which are designed to bring revenue forecasts and actual realization of net revenue in closer alignment.
The City Council pulled SCL’s proposed new rate design from the Strategic Plan preferring to use the current rate methodology for establishing rates in 2015. The Council has asked the utility to engage a broader conversation across stakeholder communities in the city to contemplate what, if any, changes to rate methodology are necessary. The Council asked that this work be completed by April 30, 2015.