For the past several months, Austin Energy has been spending money to make up the fuel cost gap and wants to recover what’s been spent.
"Austin Energy uses its cash reserves to pay for the cost of energy over the course of the summer and recoups those fees by way of a Rate Adjustment every November," said Mitchell.
To close the summer fuel cost gap, and address what’s paid going forward, Mark Dombroski, Chief Financial Officer with Austin Energy offered two rate hike options.Option 2: Lowering the cost to $15 a month by spreading it out over a three-year period."The huge jump is really the base rate. So to me that’s where Option 2 is what I'm going to support," said Austin Council member Kathie Tovo District 9."I'm really torn, honestly.
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