Tupper Lake banks on future funds to pay electric bill
TUPPER LAKE – The village board recently authorized a revenue anticipation note (RAN) to pay the municipal electric department’s electric bill.
During a special meeting Thursday afternoon, the village board unanimously agreed to issue the RAN in an amount not to exceed $450,000. That is expected to help the department cover its bills through the remainder of the winter.
In a phone interview with the Enterprise, electric department Supervisor John Bouck said residents should expect to see a significant increase in their electric bills, but he wouldn’t specify by how much.
The New York Power Authority gave Tupper Lake an option to ease the pain of the increase.
“The Power Authority didn’t give us a break, but they gave us an opportunity to spread the cost of one month over a short term,” Bouck said. “That should ease things for our customers and allow us to pay the bill. This month’s portion is 40 percent of the incremental cost, but nothing has been forecasted beyond that. They’re waiting and working with us to see what this month brings.”
The increase in cost will be evident in the purchased power adjustment, which reflects the variance in the cost to produce and generate electricity above and beyond the base rate.
“This winter has affected everyone in New York State, and in other states,” Bouck said. “We’ve been working with the Power Authority, and we feel we’ll be able to handle it.”
Bouck said the village would continue to work with electric customers to collect arrears and offer payment plans.
Village Clerk Mary Casagrain told the Enterprise this is the first time she’s aware of that the village has issued a RAN to pay its electric bill.
Contact Shaun Kittle at 518-891-2600 ext. 25 or email@example.com.