17 Motion to approve resolution suspending the effective date of Oncor's requested rate change

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CITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Presented By: Agenda Item No.: 7-7-2008 Council Date: Finance Gene Anderson 17. 7-14-2008 RECOMMENDED MOTION: Motion to approve resolution suspending the effective date of Oncor's requested rate change. POLICY ISSUE(S): Fiscal management. BACKGROUND: On June 27, 2008 Oncor Electric Delivery filed its intent to increase rates $275 million annually. This is a 17.6% residential increase, a 9.1 % commercial increase, and 5.8% street lighting increase. The staff is recommending a resolution that will suspend the rate increase for the maximum time period permitted by law allowing the Steering Committee of Cities Served by Oncor (of which Paris is a member) sufficient time to evaluate the filing and make recommendations for further action. BOARD/COMMISSION RECOMMENDATION: N/A EXHIBITS: Resolution ACTION: BUDGET INFO: ❑ Financial Report ❑ Minute Order Expense $ N/A ❑ Department Report Z Resolution Budgeted Amt. $ N/A ❑ Presentation ❑ Ordinance y'I'D Actual $ N/A ❑ Public Hearing ❑ Other Acct. Name N/A Acct. Number N/A FISCAL NOTES: None REVIEWED AND APPROVED BY: Z Administration Z City Clerk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire ❑ Municipal Court Z Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities City of Paris Revised 2/04/08 40 0OU267