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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />Cm ArroRNEYs G.. <br />"M MAiNSTRUT <br />RI VEKSIM". CA 925E <br />(951) 62S5567 <br />RESOLUTION NO. 2007-01 <br />A RESOLUTION OF THE BOARD OF PUBLIC UTILITIES OF THE CITY <br />OF RIVERSIDE, CALIFORNIA, (1) ESTABLISHING INCREASES IN THE <br />ELECTRIC RATES OF THE CITY'S ELECTRIC UTILITY FOR THREE <br />YEARS EFFECTIVE JANUARY 1, 2008, 2009 AND 2010; (2) ADOPTING <br />REVISED ELECTRIC RULE NO. l; (3) MAKING RELATED FINDINGS OF <br />FACT; AND (4) RECOMMENDING CITY COUNCIL APPROVAL <br />THEREOF <br />WHEREAS, the City of Riverside ("City" or "Riverside") by and through its Public <br />Utilities Department ("RPU") is obligated to (1) serve its electric customers safe, reliable and <br />equitably priced electricity, (2) operate its Electric Utility in an efficient and economical manner, <br />and (3) operate, maintain and preserve its Electric Utility in good repair and working order; and <br />WHEREAS, RPU is responsible for operating the Electric Utility in such a <br />manner that revenues from the sale of electricity shall at least equal the costs of <br />operation, including all maintenance and operating, administrative and general, debt <br />service, capital improvements, tax -related payments and other costs incurred in <br />complying with prudent utility business practices; and <br />WHEREAS, RPU provides service to over I04,000 customers, covering almost 80 square <br />miles, and is the fifth largest customer -owned utility in California; and <br />WHEREAS, RPU staff has reviewed and investigated the long-term power supply, <br />capital and infrastructure needs of the Electric Utility to deliver reliable electric service and <br />avoid rolling blackouts in the near future, as further described herein; and; <br />WHEREAS, on December 19, 2006, the City Council approved a three year Electric Rate <br />Plan with new rates effective January I, 2007. Subsequently, on August 14, 2007, the City <br />Council repealed tiers 3 and 4 of the residential rate plan (Schedule D) and requested that the <br />Board of Public Utilities recommend an alternative rate structure that more equitably distributed <br />