Since February 1, Georgetown’s electric utility rates have jumped by more than $12. Last year, the city council promised customers that a new 100-percent renewable energy contract would lower rates for 20-years, but just the opposite has happened.
Engineering consultant Steve Moffitt said this kind of contract requires ample management, which the city doesn’t have. Moffitt also said the city needs to spend more money on a third-party to manage the electric portfolio, but it’s not clear what impact that will have on taxpayers.
And the city has wound up on the hook for $8-million more than it anticipated because of a sharp drop in oil and gas.
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