LES customers can expect a fifth consecutive year without a rate increase

The LES rate decrease proposed for 2022 is about 1% systemwide.

LINCOLN, Neb. (KLKN) – For the fifth year in a row, LES customers will not be opening up their bill to see a rate increase.

“The largest part of our budget is associated with power costs so getting power to serve the service area, and those costs are expected to decrease for 2022 and so that allows us to not have a rate increase,” VP of Financial Services and LES CFO, Emily Koenig said.

Koenig says their large customers will actually be seeing a slight decrease, something she hasn’t seen before in her 23 years with the electric company.

“Because we are not seeking a profit, too really just align the cost that our customers pay with what it takes to serve them and that is really what helped us not have a rate increase for the past 5 years,” Koenig said.

However, residential and small business customers will essentially see that flat rate. Again, no increase.

The total proposed 2022 budget of $293.9 million allots $247.7 million for operating costs and the remaining $46.2 million for capital projects. This proposed budget is $12.2 million less in capital projects and $5.7 million less in operating costs than the 2021 budget.

Inflation is at an all time high and we are paying more for almost everything. Koenig says she is happy LES was able to stay stable for its customers.

“You know most people continue to struggle too, you know with the impacts of COVID and some of those things so it really feels good for us to do that for our customers,” Koenig said.

If you would like to take a closer look at the 2022 budget, click here.