BED to Seek Rate Increase

first_imgBED to Seek Rate IncreaseBurlington Electric Department announced October 23, 2008, that it will seek a rate increase of up to 5.9 percent from the Public Service Board, pending the approval of the City Council. The increase would become effective Jan. 1, 2009. The exact amount of the increase will be determined as BED endeavors to arrange the optimal debt strategy for 2009 and beyond. The need for the increase is driven by increased power, transmission and operating costs, along with declining sales of electricity that are a result of BED’s successful energy efficiency programs.BED has advanced its ongoing major capital projects, the McNeil air quality improvements and the East Avenue reliability upgrade, through favorable short-term borrowing arranged through the City. This allows BED to reap the benefits of these projects in lowered operating costs as it moves into 2009 without fully absorbing the cost of the debt these projects will require.”That’s the bright side,” said general manager Barbara Grimes. “More problematic is that these projects will still need long-term financing in a bond market that is very uncertain, given the current financial turmoil. Though thankfully we have voter support to obtain bond funding, and we prefer long-term to short-term debt, the bond market is currently expensive. It is difficult to say today when the time will be right. But by implementing these cost-effective projects now, we can count on reaping their benefits to lower the amount needed when we do go for long-term financing.”BED is sensitive to the difficult economic times Burlington’s residents and businesses are experiencing. “While we’re reluctant to put off what we know will be needed and defer debt until tomorrow, we think it is best in the current economic situation to ask for as small a revenue increase as possible,” said Grimes.BED will continue to offer aggressive energy efficiency programs to all its customers. “We’ve known through our planning that these programs will reduce revenue and impact rates in the short term, but participating in these offerings is the best way for our customers to lower their own bills and offset the increased cost. The payoff will come in the long term, when BED can avoid buying new supply sources.”All BED customers are encouraged to explore what’s available for reducing their energy bills by visiting BED’s web site, is external), or by calling 658-0300.#30last_img read more

Bosnian finished “Wings of Life” Race in Wheelchairs

first_imgAround 60 people from Zenica took part in the “Wings for Life” race that was held yesterday, and they ran with the aim to raise funds for the invention of a drug for the treatment of spinal cord injury.One of the runners was Mirsad Djulbic from Zenica, who finished the race in his wheelchairs.“This is a very important race for us, but we should inform the public more about it. I came here because I saw that our people from Zenica will dedicate their kilometers to someone, and I will dedicate my kilometers to all the people in wheelchairs,” said Djulbic.Naila Muratovic from Zenica was one of the runners as well, and she noted that she is honoured and very pleased with the fact that runners helped those who have spinal cord injuries with their fees and kilometers and they also informed the public about this issue.(Source: E. M./ read more