The Truckee Meadows Water Authority Board of Directors today voted not to increase rates for water customers.
A 2.5 percent increase was on deck at today’s board meeting. If approved, the increase would have started in May of 2019, but the board cited TMWA’s financial condition as positive enough that an increase won’t be considered again until 2020.
“Given TMWA’s positive financial position, the board can deliver some good news to our customers,” said Vaughn Hartung, board chair and county commissioner. “Rate increases are necessary at times, but we are happy to announce that TMWA’s forecasted financial conditions can accommodate this rate deferral.”
TMWA officials said that increased water sales as a result of warm summers three years in a row helped. In addition, TMWA’s hydroelectric plants operated at near capacity recently, contributing “an all-time high of $3.7 million in … power revenue which offset almost all of TMWA’s power costs.”
The board will be updated in the fall of 2019 as to possible future increases.