Review of Utility Rates and Budgets

The 2024 District Energy Utility Rates report for the City of Richmond recommends amending bylaws to introduce new rates for Alexandra, Oval Village, and City Centre District Energy Utilities. The report proposes a 6.7% rate increase for commercial and two utility services, and a 1.0% increase for residential services in the Alexandra District Energy Utility. These rates aim to keep energy costs competitive and ensure financial sustainability, considering increased costs and inflation impacts. The report was adopted on consent.