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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 />Crcr ArroRNEY9 Omc, <br />3900 MAIN S7RF]:r <br />Mvusiae CA 97522 <br />19511 RZ&W7 <br />RESOLUTION NO. 2010-01 <br />A RESOLUTION OF THE BOARD OF PUBLIC UTILITIES OF THE CITY <br />OF RIVERSIDE, CALIFORNIA, (1) ADOPTING THE ECONOMIC <br />DEVELOPMENT RATE (SCHEDULE ED) AND THE BUSINESS <br />RETENTION RATE (SCHEDULE BR); (2) MAKING RELATED FINDINGS <br />OF FACT; AND (3) 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, on May 2, 2000, the City Council approved the adoption of rate Schedule <br />ED, "Economic Development" ("the ED rate"). This rate enhanced the City's ability to attract <br />and retain new or expanded load industrial customers who provide significant increases in <br />electric revenues. On October 17, 2000, the City Council adopted Resolution No. 19784, which <br />restricted the application of the rate to those customers who not only met the rate requirements, <br />but also covenanted to either create at least 20 jobs, invest at least $I,000,000 in capital <br />improvements or annually generate at least $5,000,000 in taxable sales; and <br />WHEREAS, the City Council closed this rate in 2006 when RPU began to experience <br />increased load growth that, together with the City's internal generation, could have exceeded <br />existing import capability at the Vista substation during peak periods. Due to the economic <br />downturn, load growth has not reached expected levels. The reduced load growth, coupled with <br />RPU's construction of an additional 96 MW of internal generation (Riverside Energy Resource <br />Center Units 3 and 4) scheduled for commercial operation in fall 2010, now allow for the re- <br />introduction of an economic development rate incentive to encourage business growth; and <br />WHEREAS, the ED rate is targeted towards larger, industrial -sized customers as their <br />large electric -loads assist in reducing overhead costs to all utility customers. Smaller customers <br />are already included in the City's power planning process, and do not bring unanticipated load or <br />revenues that provide meaningful benefits to other utility customers; and <br />WHEREAS, in general, RPU delivers electricity to customers through distribution and <br />I <br />