GRDA Announces Rate Increase To Begin In 2010 - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

GRDA Announces Rate Increase To Begin In 2010

Posted: Updated:
Headquartered in Vinita, GRDA is a self-supporting state agency, funded by the revenues from the sale of electricity instead of taxes. Headquartered in Vinita, GRDA is a self-supporting state agency, funded by the revenues from the sale of electricity instead of taxes.

NewsOn6.com

VINITA, OK -- The Grand River Dam Authority announced both bad and good news Wednesday.  The utility says it plans to roll out an 11.95 % base rate increase on January 1, 2010, but remains optimistic the increase can also be rolled back in the future.

"It is possible this can be adjusted down in the future," said GRDA Chief Financial Officer Carolyn Dougherty. "Based on our ongoing financial condition and rate requirements, things could certainly change."

The GRDA Board of Directors approved the increase during its October 14 meeting, after reviewing the findings of recent rate analysis.

Those findings pointed to 2010 as the year when the rate adjustment would be most needed. However, because the older GRDA debt is scheduled to be paid off in 2014, the increase is considered temporary and would not last beyond May 2014.

"We are going to be in a belt-tightening period for the next few years," said GRDA Chief Executive Officer Kevin Easley. "Like many other organizations, we are seeing the results of a slowing economy, where growth projections did not materialize. However, the future remains very bright for GRDA past 2013."

Headquartered in Vinita, GRDA is a self-supporting state agency, funded by the revenues from the sale of electricity instead of taxes.

GRDA transmits and delivers electricity across its 24-county service area via a delivery system that includes over 1,900 miles of transmission line.

Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2017 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.