A public meeting was held on May 1st, 2023, in the Peru City Council Chambers at 5:45 p.m. for the opportunity to ask questions about Ordinance Number 6, 2023. This Ordinance will amend Ordinance Number 3, 2016, and the schedule of rates and charges for service provided by the Municipal Electric Utility of Peru.
The uncontrollable market conditions since 2021 are the largest driver of the need to increase rates, with equipment and materials increases from 65% to 536%, severely impacting every aspect of the electric utility’s ability to provide reliable service both today and planning into the future. Below is a comparison of the costs of residential transformers and conductors between 2021 and the end of 2022.
The rates will increase an average of 16.49% across all customer classes. A typical residential customer using 1000kW will see an increase of 7.11% or $8.78 overall. The new rate will still be 10 to 35% lower than the current rates of the nearest electric utilities for 1000kW of residential service.