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1 RiversidePublicUtilities.com1
RiversideCA.gov
City CouncilMarch 11, 2025ANNUAL UTILITY RATE PLAN UPDATE FOR THE RESULTS OF FY 2023-24Public Utilities RiversidePublicUtilitis.com2
RiversideCA.gov
BACKGROUND1. Current electric and water five-year rate plans approved by City Council on September 19, 20232. Reviews of adopted rates provided annually 1 2
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2 RiversidePublicUtilitis.com3
RiversideCA.gov
ELECTRIC RETAIL KWH SALES AND REVENUE
783 759 786 709 688 694 701 405 443 440 427 471 475 480 916 923 921 916 910 919 928 18 19 14 12 14 14 14 $322$338$347$353$380$410$433 - 50 100 150 200 250 300 350 400 450 500 - 500 1,000 1,500 2,000 2,500 3,000 3,500FY 20-21ActualFY 21-22ActualFY 22-23ActualFY 23-24ActualFY 24-25ProjectionFY 25-26ProjectionFY 26-27ProjectionIn Millions Millions of Kilowatt-hoursResidential kWhCommercial kWhIndustrial kWhOther kWh Total Revenue
RiversidePublicUtilitis.com4
RiversideCA.gov
ELECTRIC UNDESIGNATED CASH RESERVES$136.0$128.3$141.4$175.2$221.2$35.0$35.0$35.0$35.0$35.0$0$50$100$150$200$250$300FY 23-24ActualFY 24-25ProjectedFY 25-26ProjectedFY 26-27ProjectedFY 27-28Projected (in millions)Undesignated ReservesLine of CreditTarget Minimum 3 4
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3 RiversidePublicUtilitis.com5
RiversideCA.gov
$253 $207 $124 $- $50 $100 $150 $200 $250 $300SDG&E SCE RPUAverage residential customer bill at 600 kWh per monthELECTRIC RATE COMPARISONSDGE- Rates effective January 1, 2025SCE- Rates effective January 1, 2025RPU- Rates effective January 1, 2025 RiversidePublicUtilitis.com6
RiversideCA.gov
16 15 13 13 14 14 14 10 10 9 9 9 9 9 1 1 1 1 1 1 1 71 73 70 73 82 87 94 $- $10 $20 $30 $40 $50 $60 $70 $80 $90 $100 - 5 10 15 20 25 30 35 40FY 20-21ActualFY 21-22ActualFY 22-23ActualFY 23-24ActualFY 24-25ProjectionFY 25-26ProjectionFY 26-27ProjectionIn Millions Millions of Hundred Cubic-feetResidential (CCF)Commercial/Industrial (CCF)Other (CCF)Total RevenueWATER RETAIL CCF SALES AND REVENUE5 6 2/27/2025
4 RiversidePublicUtilitis.com7
RiversideCA.gov
WATER UNDESIGNATED CASH RESERVES$43.2$46.8$54.5$59.7$70.5$25.0$25.0$25.0$25.0$25.0$0$10$20$30$40$50$60$70$80$90$100FY 23-24ActualFY 24-25ProjectedFY 25-26ProjectedFY 26-27ProjectedFY 27-28Projected (in millions)Unrestricted, Undesignated ReservesLine of CreditTarget Minimum RiversidePublicUtilitis.com8
RiversideCA.gov
WATER RATE COMPARISONWMWD- With rates effective July 1, 2024EMWD- With rates effective January 1, 2025RPU- 2ndyear of new rate plan (2024-2028) effective July 1, 2024 $116 $112 $63 $- $20 $40 $60 $80 $100 $120 $140EMWD WMWD RPUAverage residential customer bill at 20 CCF per month7 8 2/27/2025
5 RiversidePublicUtilitis.com9
RiversideCA.gov
1. Electrification and Distribution System Upgrades a. Clean Fleet Rules - Zero emission vehicle purchases b. Distribution System Upgrades – Internal operations and to support community2. PFAS - Future compliance orders/standards3. Aging infrastructure continues to be challenging4. Water pipeline replacementa. Lifecycle 125 years to industry standard 75 yearsUNFUNDED FUTURE COSTS RiversidePublicUtilitis.com10
RiversideCA.gov
WHAT’S AHEADSecond Year of new Electric Rates effective January 1, 2025Fiscal Year 2023/24 Annual Audit Report and Financial ResultsThird Year of Water Rates effective July 1, 2025Continue to monitor market trends, regulatory compliance, and deliver the highest quality water and electric service at the lowest possible rates to beneift the community9 10 2/27/2025
6 RiversidePublicUtilities.com11
RiversideCA.gov
Strategic Priority 6 - Infrastructure, Mobility & ConnectivityGoal 6.2 - maintain, protect and improve assets and infrastructure within the City’s built environment to ensure and enhance reliability, resiliency, sustainability, and facilitate connectivityCross-Cutting ThreadsSTRATEGIC PLAN ALIGNMENT Community Trust
Equity
Fiscal Responsibility
Innovation
Sustainability & Resiliency
RiversidePublicUtilitis.com12
RiversideCA.gov
That the Board of Public Utilities recommend the City Council receive the annual electric and water utility rate plan update for the results of Fiscal Year 2023/24.RECOMMENDATION11 12