Richmond Power & Light Special Meeting of July 13, 2026

The Richmond Power & Light (RP&L) Board held a special meeting on July 13, 2026, to discuss a new cost of service study and proposed rate adjustments. The study, conducted by Newgen Strategies and Solutions, addressed infrastructure maintenance needs including replacement of aging transformers, capital projects like LED streetlight conversion, and funding for a $30 million coal combustion residuals (CCR) environmental project. The board reviewed proposed rate changes including a phased increase in the fixed facilities charge from $12.08 to around $16 over three years, and the introduction of separate riders for the general fund transfer and environmental costs to improve billing transparency. The meeting also covered updates to the rate tariff, including removal of obsolete electric vehicle charging rates, new provisions for large industrial customers (over 40 MW), and a prepaid electricity program pilot. The board voted to approve Resolution 2-2026 to forward the proposed tariff changes to the Richmond Common Council for further consideration, including public hearings and finance committee review. The discussion emphasized maintaining financial stability, rebuilding reserves, and supporting community growth with competitive rates.