Thursday, March 28, 2024

PUD bond measure will replace Okanogan-Brewster line

Millions in wildfire damage

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OKANOGAN – The Okanogan PUD board of commissioners approved a resolution at its Oct. 12 meeting authorizing the issuance of up to $40 million in bonds part of which will be used to replace the Okanogan-Brewster transmission line that sustained heavy damage from the Cold Springs wildfire last month. Historically low interest rates coupled with the critical need of several large capital projects makes now a favorable time to borrow money.

The line was set for replacement in the next few years but has been accelerated after the Cold Springs Fire destroyed about 40 percent of it,” said Sheila Corson, PUD community relations coordinator. “The currently wooden poles will be replaced with steel poles to protect against future fire damage.”

It is estimated the line replacement will cost about $13 million and will allow for greater capacity from Wells Dam, the utility’s least expensive power source.

PUD staff presented a balanced draft 2021 budget at the meeting that includes a projected 3.25 percent revenue increase scheduled for April 1, 2021.

The exact amount of the increase and how it would be applied to rates is yet to be determined,” said Corson. “Okanogan PUD’s rates are about fifth lowest in Washington state, while Washington has among the lowest average rates in the nation.”

Members of the public can listen and join in on the 2021 budget discussion at future meetings via telephone. Agendas and other documents will be posted on the district’s website, okanoganpud.org. Upcoming meetings include:

Oct. 26: 3 p.m. regular meeting and 6 p.m. generation and power supply workshop.

Nov. 9: 3 p.m. regular meeting and 6 p.m. engineering and operations workshop.

Nov. 23: 3 p.m. regular meeting and 6 p.m. operations and maintenance trends, human resources, broadband and information systems workshop.

Dec. 7: 3 p.m. regular meeting.

Dec. 21: 3 p.m. regular meeting, anticipated budget adoption.

 

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