MEMPHIS, Tenn. (LocalMemphis.com) — The Memphis City Council and Memphis Light Gas & Water have reached a months old stalemate over the raise in your electric rates
Tuesday, council members approved a 3% increase that would take effect in July. That means customers will be paying an extra $2.70 every month. Electricity rates will increase 2.7% in 2021 then rise again 1.5% in 2022.
On average, customers will pay $8.98 by the third year, but these changes will not be made final until after a required progress report from MLGW to the Council showing efforts to reduce costs at the utility.