Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
November 8, 1999 <br /> <br />City end up losing revenue?" Mr. Richardson replied, "We're not supposed to. <br />However, we'll lose the interest that we would have earned until the State sends it <br />back." Council Member Roop stated, "Even though some taxes come off, we'll pay <br />more. All of this puts us at a disadvantage." Mr. Richardson stated, "We'll still be a <br />distribution company. Also, our average revenue per kilowatt for 1997 was 5.3. AEP <br />AEP sells to Tultex cheaper than the City can. There may, also, be <br />surcharges." Mayor Crabtree asked, "Can we still charge on-demand <br />meter?" Mr. Richardson replied, "Yes. We're in the final phase of a rate study. We <br />need to meet with the consultants to determine the number of classes and what our <br />margin needs to be to exist. The State legislators claim that we're not paying our share. <br />We're buying from Cinergy, and they [State] can't charge them gross revenue. It began <br />with stranded costs." City Manager Reynolds asked, "Since there hasn't been a SCC <br />tax before, what will it be used for." Mr. Richardson replied, "Administer the programs, <br />such as education and SCC building operation." Vice Mayor Teague asked, "Have we <br />sought a ruling from the Attorney General?" Mr. Richardson replied, "His office has <br />been in all of the meetings." Council Member Haskell stated, "According to an article in <br />the Richrnond';~Fimes:Dis~atch on November 7, 1999, Dominion Resources, the parent <br />company of Virginia Power, was #2, and Virginia Power was #3 in money spent on <br />lobbying efforts. What is the bottom line for the average residential customer?" Mr. <br />Richardson replied, "Approximately $0.38 per month" Vice Mayor Teague stated, "We <br />need to stress to the consumers why it's important to stay with the City." Mr. <br />Richardson stated, "No one in our territory will have a choice until 2004. Rates will not <br />be deregulated until 2004." Mayor Crabtree stated, "As a government, we have a basic <br /> <br />was 4.9. <br />occasional <br /> <br /> <br />