The Princeton Municipal Light Department is set to deliver residents a note detailing potential electricity rate increases due to fiscal problems at the utility, The Landmark reports.
According to the news source, PMLD general manager Brian Allen recently worked with resident Jon Fudeman, a former CPA, to perform a financial analysis of the department.
"I'm very grateful to Jon Fudeman," said Allen at the Sept. 12 meeting of the Board of Light Commissioners. "He spent a lot of hours and looked back over 10 years to see where the problems started. It's important this information gets out there so people will understand where we're at."
In 2011, Princeton residents paid 36 percent more for their electricity than the average of all residents in Massachusetts. A homeowner who used about 800 kilowatts per hour of energy each month paid a total of $516 more than other customers.
Fortunately for Massachusetts residents, energy deregulation laws have been in place since March 1998, allowing residents to shop around for electricity rates and switch energy providers if necessary.