Morrisville Water & Light Proposes First Rate Increase in Over a Decade
Morrisville, VT – Morrisville Water & Light (MW&L), a community-owned electric utility serving over 4,200 customers in Lamoille Valley, announced today that it is proposing an 11.25% increase in electric rates. If approved by the Public Utility Commission, this would be the first time the Morrisville community has seen rates rise since 2010.
The proposed rate change would cause the typical household monthly electric bill to increase by about $10. Despite the rate increase, MW&L residential bills are expected to be 16% lower than what the typical Vermonter pays.
“We know this is going to be unwelcome news for our community,” said Morrisville Water & Light General Manager Scott Johnstone. “We’ve been able to avoid a rate increase for twelve years, but our not-for-profit utility has reached the point where it is necessary so we can keep providing safe and reliable power.”
Increased wholesale power supply costs, high inflation, compliance with Vermont renewable energy standard costs, and 12 years of accrued labor increases are the driving factors behind the rate increase. A global shortage in natural gas supply has led several New England and Vermont utilities to raise their electric rates. Prior to their proposal, MW&L recently signed a long-term renewable generation contract that would mitigate the impacts of energy price volatility.
The new rate is expected to take effect around March 1st 2023. Morrisville Water & Light customers can provide feedback during the Public Utility Commission’s thorough rate review process, which is expected to span several months. Customers can learn more about rate review procedures and opportunities to provide feedback at https://puc.vermont.gov/.
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About Morrisville Water & Light
Morrisville Water & Light (MW&L) is a non-profit public power utility serving over 4,200 customers in the Vermont towns of Morrisville, Elmore, Hyde Park, Johnson, Morristown, Stowe, and Wolcott. MW&L is governed by a five-member board of trustees and makes decisions through public participation at open meetings. MW&L prides itself on meeting the community’s needs while committing to renewable energy resources and sustainable practices that benefit the environment. Learn more here: www.mwlvt.com