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PUD Considers Rates/Layoffs Tomorrow 6/12/2012
A special meeting has been scheduled for tomorrow for ChelanCounty PUD Commissioners to discuss and possibly vote on a package of rate increases and proposed lay offs within the fiber optic network.
 
Interim Director of Fiber Optics, Chris Church, said the commissioners provided clear direction to staff to build a business plan that allows the network to be self sustaining.
 
Staff made recommendations to the board at last weeks meeting that included eliminating four of the 11 full time fiber network staff positions and increasing wholesale rates by 9% effective August 1st.
 
The changes are part of a new PUD fiber policy that also forgives the network’s $99 million in internal debt but requires network revenues to fund all expansion with no help from PUD reserves.
 
Commissioners will also be asked tomorrow to set targets for electric, water and sewer service for: cash reserves, rate of return, debt leverage ratio and combined debt coverage. The targets will be used to help develop five year business plans for each of the services.
 
Tomorrows meeting will take place in the boardroom at PUD Headquarters on Wenatchee Avenue, it is set for 10 AM and is open to the public.
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