NPPD Board makes it official. There will be no hike in the electric rates of wholesale and retail customers of Nebraska Public Power District.
The Cassgram reports that earlier this year, NPPD alerted its wholesale and retail customers it would likely need a projected 3.5 percent increase. That was later reduced to two percent. President and CEO Pat Pope then informed the board of directors in September that the rate increase had been reduced to zero for the upcoming year.
“The bottom line is we have had a much better year in 2013 than we budgeted, and staff has done an excellent job in scrubbing budgets and reducing costs without compromising reliability and safety,” said Pope. We will be doing everything we can to keep future rate increases to a minimum and help keep public power in Nebraska as competitive as possible.”
As a public power utility, NPPD rates do not include a profit margin.