Albany - A $2.5 Million budget deficit may mean higher utility bills for Albany Water, Gas & Light customers.
The utility may have to increase electric rates by 7% in the next few months. That's because WG&L buys its electricity from MEAG, the Municipal Electric Association of Georgia. Any excess electricity we don't use is sold and that money goes back to WG&L.
The amount they budget for and expect to receive is based on a prediction, but when the final budget was released from MEAG, it was much lower than expected and puts the utility almost two and a half million dollars under budget.
Finance Director John Vansant says, "They are now predicting that we are going to have to pay between Jan and June $2.5 Million more for the electricity than we had anticipated and that blows a big hole in our budget, a $2.5 Million hole and so it may be necessary to raise our electricity rates in response to that."
The board has to vote on the rate increase before it goes into effect.