New power rate could help hospital, schools

Petersburg Power and Light could be asked to subsidize electric rates to Borough general fund users, the hospital, cold storage and schools.

In a joint meeting with the schools and hospital, Borough Manager Steve Giesbrecht asked the finance department to run numbers showing the potential savings if a Municipal Rate were set at $9/mo. plus 6.9-cents per kwh. Savings to each entity would

be $233,179 each year and the borough electric utility would subsidize the savings through their revenue stream.

Manager Giesbrecht wrote: “Important to remember this would cost Power and Light the same amount...