Lincoln Electric Service customers will have to pay a monthly dividend charge on their electric bills under a new city ordinance.
The required dividend payments will start September 1, 2011 as a result of a measure the Lincoln City Council approved in August.
The ordinance requires Lincoln Electric Service to pay the city a dividend. The ordinance is expected to generate more than $6 million for the city in its first year.
LES Chairman Kevin Wailes says customers pay some of the nation's lowest rates because the utility is a city-owned nonprofit. Wailes says officials felt it was appropriate to provide the city a dividend for that ownership.
The ordinance was a joint effort of the mayor's office, the city attorney and LES.