Advertiser Disclosure: At ElectricityRates.com, our number one goal is to help you make better energy decisions. We adhere to strict editorial guidelines, however this post may include references to products offered from our partners.
If Washington utility City Light gets its way, electricity rates in its jurisdiction would rise 10 percent on average in the next two years, The Seattle Times reports.
According to the news source, the measure is still up for approval by the Seattle City Council Energy and Environment Committee. If passed, the average increase would vary slightly depending on which energy plan was adopted. Residential electricity rates, for example, would rise higher than business electricity rates, which would ring especially true in 2013, when City Light is expected to proposed further rate hikes.
The effect the higher prices will have on businesses will also differ depending on the level of usage. A small business may only see an increase of less than $40 dollars if the rates are approved, while a much larger operation could pay as much as $5,500 more.
"While very few feel good about paying their electric bills, what I've heard is people feel comfortable about the process" behind the increases, said Mike O'Brien, chairman of the committee.
Washington could benefit from energy deregulation laws, which have helped residents in other states find lower energy rates due to increased competition.