LES 2014 Budget Approved, Includes retail increase

LINCOLN -- As the end of 2013 comes into sight, the city of Lincoln is planning for 2014 - LES is not an exception. On Friday, the Lincoln Electric System Administrative Board approved the proposed 2014 budget totaling 257.6 million dollars.

Also approved - a 2.9 percent system-wide retail rate increase. What does this mean? Typical LES residential customers will see an increase of close to $2.41 on their monthly bills starting January 1st.

Laura Kapustka, LES vice president of Financial Services and chief financial officer, says the adjustment will cover several things, including rising energy transmission and the expansion of their Sustainable Energy Program. Next, the proposed budget will head to the City Council, who will consider it at a public hearing on November 4th.