BMU: Rate increase needed

scottw@standard-democrat.com

SIKESTON -- Sikeston residents and businesses should go ahead and begin planning now for their electric bills to go up.

"I wish I could say I'm excited to be here," said Ed Throop, executive director of the Sikeston Board of Municipal Utilities, during the Sikeston City Council's special meeting Monday.

The Sikeston Power Plant is seen Sunday evening. Several factors have led to Ed Throop, executive director of the Sikeston Board of Municipal Utilities, proposing a rate increase to the city council. (David Jenkins, Staff)

Throop said he will soon be presenting a proposed rate increase to the City Council for consideration due to the electrical system not meeting required debt service coverage for fiscal year 2014; the uncertain future of the wholesale power market; and BMU receiving a "negative outlook" from the Fitch Rating Service.

Throop said the new rates, if approved by the City Council, will mean for an average user an increase on their bill of "about five bucks a month and for the second an additional five bucks a month."

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