The Omaha Public Power District Board of Directors in December approved the utility’s $2.1 billion corporate operating plan for 2024.
The plan includes a modest general rate increase to help maintain robust and reliable electrical service amid rising costs and growing customer demand.
“We work hard to manage costs to keep rates low for customers,” said OPPD Chief Financial Officer Jeff Bishop. “This rate action is necessary to reliably serve our customers, given the rising costs of net power, as well as inflationary and supply chain pressures.”
Budget priorities include progressing programs to give customers more control over their energy use, as well as continued infrastructure modernization for electric system reliability and resiliency.
Beginning January 1, the average retail rate increase across all customer classes is 2.5%. Residential customers will see a 1.6% increase. The impact from customer to customer will vary, with high energy users experiencing an increase greater than 1.6% and low energy users experiencing less of an increase.
OPPD noted that it has strategies and tools available to help customers save energy, including energy efficiency tips, a usage calculator, how-to videos, and more at OPPD.com/ee. It also offers several rebates and incentives for reducing energy usage.
According to the latest available figures from the Energy Information Administration, OPPD’s retail rates were 26.5% below the national average in 2022. OPPD’s average general rate increase for 2024 is generally lower than comparable utilities. The average increase among 11 peer utilities, located in the Midwest and elsewhere, is 4.8% -- nearly double OPPD’s.
OPPD noted that it realizes that even a small increase can be challenging for those already struggling to pay their utility bills. It offers a range of assistance programs for those who qualify.