BENSON — The Benson Board of Commissioners will hold a public hearing at 7 p.m. Tuesday, March 10, at the Benson Conference Center, 303 E. Church St., to receive public comment on proposed changes to the town’s electric rate schedule.
The proposed adjustments follow completion of an electric cost-of-service study and financial projection analyzing the utility’s current financial position. The study, conducted by Utility Financial Solutions LLC in conjunction with ElectriCities of North Carolina, reviewed the town’s rate structure and electric utility financial data to compare the cost of serving customers with current revenues.
According to the study, existing rate-related revenues do not meet target operating income levels, and the Electric Fund balance is below the recommended minimum. Financial projections for fiscal years 2027 through 2031 indicate negative adjusted operating income and declining cash balances if rates remain unchanged…