MEMPHIS, Tenn. (LocalMemphis.com) — The Memphis City Council approved rate hikes for gas and water services in December, but it rejected a proposed MLGW rate hike on electric.
Tuesday MLGW CEO, J.T. Young appeared before an executive session of the city council to present what he called an alternative electric rate increase proposal.
The new 5-year proposal would allow for a billion dollars in infrastructure improvements for water, gas and electric over a 5-year period and rate hikes spread over 3 years.
“The longer we go without a decision then the longer it is before we can start ginning up resources to get things done, so it just delays that,” said Young.
At this point MLGW is working without a budget, which is usually approved by now. The council will reconsider the new proposal at its next meeting.