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1 RiversideCA.gov
1 RiversideCA.gov
ANNUAL UTILITY RATE PLAN UPDATE
FOR THE RESULTS OF FY 2021-22
City Council
December 13, 2022
Public Utilities Department
RiversideCA.gov
2 BACKGROUND
May 22, 2018 City Council approved the electric and water five- year rate plans and directed staff to provide annual review of adopted rates
January 2019 2.95%
January 2020 3.0%
January 2021 3.0%
January 2022 3.0%
January 2023 3.0%
July 2018 4.50%
July 2019 5.75%
July 2020 5.75%
July 2021 5.75%
July 2022 6.50%
Based on system average, rate increases vary by customer class and consumption levels.
Water
Years 1‐5
Electric
Implementation of the Third Year
of the Electric Rate Plan was
delayed six months and
implemented July 1, 2021.
BACKGROUND
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3 RESULTS OF FISCAL YEAR 2021-22
1. Local Emergency due to COVID-19 in March 2020
2. Resulted in:
A. Adopted single year budget for FY 2021-22
B. Local Emergency continued throughout FY 2021-22
3. Fourth year of water rate plan effective July 1, 2021
4. Fourth year of electric rate plan effective January 1, 2022
5. Final FY 2021-22 financial information will be included with the 2022 Financial Report in January 2023
RESULTS OF FISCAL YEAR 2021-22
RiversideCA.gov
4 HISTORICAL RETAIL SALES
Electric Utility - June 30, 2022
$-
$50
$100
$150
$200
$250
$300
$350
$400
-
500
1,000
1,500
2,000
2,500
3,000
3,500
FY
2012
FY
2013
FY
2014
FY
2015
FY
2016
FY
2017
FY
2018
FY
2019
FY
2020
FY
2021
FY
2022
In Millions
Millions of Kilowatt-hours (kWh)
Residential (kWh) Commercial (kWh) Industrial (kWh) Other (kWh) Total Revenue PreliminaryActual
HISTORICAL RETAIL SALES
Electric Utility - June 30, 2022
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5 ELECTRIC UNDESIGNATED CASH RESERVES
$193.1 $176.5 $161.0 $166.1 $154.0
$35.0
$35.0
$35.0 $35.0 $35.0
$0
$50
$100
$150
$200
$250
$300
FY 19-20
Actual
FY 20-21
Actual
FY 21-22 Preliminary
Actual
FY 22-23 Budget FY 23-24 Budget
(in millions)
Unrestricted, Undesignated Reserves Line of Credit Target Minimum Target Maximum
ELECTRIC UNDESIGNATED CASH RESERVES
RiversideCA.gov
6 HISTORICAL RETAIL SALES
Water Utility - June 30, 2022
$-
$10
$20
$30
$40
$50
$60
$70
$80
-
5 10
15 20
25 30
35 FY
2010
FY
2011
FY
2012
FY
2013
FY
2014
FY
2015
FY
2016
FY
2017
FY
2018
FY
2019
FY
2020
FY
2021
FY
2022
In Millions
Millions of Hundred Cubic-feet (CCF)
Residential (CCF) Commercial/Industrial (CCF) Other (CCF) Total Revenue PreliminaryActual
HISTORICAL RETAIL SALES
Water Utility - June 30, 2022
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7 WATER UNDESIGNATED CASH RESERVES
$28.7 $33.5 $38.9 $40.9 $40.4
$25.0 $25.0
$25.0 $25.0 $25.0
$0
$10
$20
$30
$40
$50
$60
$70
$80
FY 19-20 Actual FY 20-21 Actual FY 21-22 Preliminary
Actual
FY 22-23 Budget FY 23-24 Budget
(in millions)
Unrestricted, Undesignated Reserves Line of Credit Target Minimum Target Maximum
WATER UNDESIGNATED CASH RESERVES
RiversideCA.gov
8 ELECTRIC RATE COMPARISON
$247
$179
$103
$4
$-
$50
$100
$150
$200
$250
$300
SDG&E SCE RPU
Average residential customer at 600 kWh per month
5th Year of
Rate Plan
effective
January 1, 2023
Current
SDGE- As of October 11, 2022 with rates effective June 1, 2022 SCE- As of October 11, 2022 with rates effective October 1, 2022 RPU- 4
th year of rate plan effective January 1, 2022
ELECTRIC RATE COMPARISON
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5 RiversideCA.gov
9 WATER RATE COMPARISON
$118
$106
$58
$-
$20
$40
$60
$80
$100
$120
$140
EMWD WMWD RPU
Average residential customer at 21 CCF per month
Current
WMWD- As of October 11, 2022 with rates effective July 1, 2022 EMWD- As of October 11, 2022 with rates effective January 1, 2022 RPU- 5
th year of rate plan effective July 1, 2022
WATER RATE COMPARISON
RiversideCA.gov
10 WHAT’S AHEAD
Implement Fifth Year of Electric Rates effective January 1, 2023
Fiscal Year 2021/22 Annual Audit Report and Financial
Results
Cost of Service and Rate Design Projects
Proposed Water Rate Plan
Proposed Electric Rate Plan
WHAT’S AHEAD
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11 Strategic Priority 6 - Infrastructure, Mobility & Connectivity Goal 6.2 - maintain, protect and improve assets and infrastructure within the City’s built environment to ensure and enhance reliability, resiliency, sustainability, and facilitate connectivity
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
12 That City Council receive the annual electric and water utility rate plan update for the results of Fiscal Year 2021/22.
RECOMMENDATIONRECOMMENDATION
11 12