MIAMI, Okla. — Both commercial and residential utility customers in Miami can expect to pay a bit extra on their bills should voters pass an upcoming rate increase.
The rate increase proposal comes after Winter Storm Uri wreaked havoc back in February of 2021 which brought freezing temperatures, snow, and ice across the midwest. The extreme weather event also caused record winter power demand and severely impacting power generation (more below).
During Uri, Miami residents used 15,636,304 kWh in Extraordinary Power Costs (EPC) energy. The GRDA notified the city in Aug. 2021 that the expenses should be paid in full by Oct. 2022. The City of Miami had until Oct 15, 2021 to choose a payment option for the subsequent $2,698,459 wholesale power charge.
An option was selected following an agreement between the Miami City Council and Miami Special Utility Authority – with funds coming from MSUA and possibly the City’s Rainy Day fun, which could impact capital improvement projects, the City of Miami noted in a release.
The increase for Miami utility users will result in a $4 – $6 charge per 1000 kilowatt hours used starting in May. Residents were notified of their $1 million portion of the Power Adjustment Cost (PCAx) in Dec. 2021.