Columbus Light and Water power sales are down, but the city energy distributor’s purchases from Tennessee Valley Authority are also.
This means that halfway through this fiscal year, CL&W is more financially sound on its electric budget than it was halfway through 2012-13, general manager Todd Gale said.
This fiscal year to date, CL&W has an operating revenue less power cost of $4,346,609 compared to $4,317,805 through six months last year. This is despite an 8.4 percent dip in general power sales above 50 kilowatt hours from $11,721,138 to $10,740,278 and a 1.7 decrease in residential sales.
Meanwhile, water revenues are up, as is CL&W’s operating income from water sales. Revenues through six months total $2,659,645 compared to $2,324,385 last year. Expenses are also up through the halfway point of this fiscal year, partly due to renovation of one of the water plant’s wells, but income is up 17.6 percent. So far, that amount is $487,132 compared to $414,199 through six months in the prior fiscal year to date.
Gale presented the report during CL&W’s monthly board of directors meeting.
After an hour-long executive session, the board voted in favor of allowing Gale to enter contract negotiations with Utility Management Solutions to install new water meter system for the city. The Hammond, La.-based company was one of three companies who submitted proposals. Directors Charles Newell, Andrew Colom and Brandy Gardner voted in favor of the motion with Jimmy Graham opposed. Board president David Shelton abstained.
Gale told The Dispatch previously he expects installation of the new system to cost slightly more than $3 million. The board previously approved a $4 million financial plan for an automatic, fixed-base meter system before opting to shop for mobile metering systems.
Nathan Gregory covers city and county government for The Dispatch.
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