Residents will see an increase on their monthly electric bills as of today.
In 2013, the city board of directors passed an energy rate increase when the Grand River Dam Authority, the provider of electricity to Siloam Springs, announced base rate revisions for its energy charges.
While making changes to the city's rate ordinances in 2013, the board requested a policy to authorize an annual rate increase based upon a cost-of-living index, which measures the market price levels of services to households. The adjustment ensures the city will not lose money and will also not drop a larger increase on residents. The city rate increase occurs annually on April 1.
Today, residential electric customers will see an estimated average monthly increase of $1.09 added their bill and commercial businesses will see an estimated average increase of $3.02. The estimate is based on 500 kilowatts hours for residential and 1,000 kilowatts hours for commercial businesses.
"If you round down for residential it's about $12 a year," said city electrical director Art Farine. "It's not a big increase, but if we keep small increases moving along it will help us from having a large increase."
In April 2014, monthly rates for residents increased by 91 cents, and $2.53 for commercial customers.
The GRDA power cost adjustment charge fluctuates depending upon the cost to get power to Siloam Springs. The power cost charge is passed on the customers;. The GRDA base energy charge is calculated on kilowatts used per hour.
General News on 04/01/2015