Despite rising wholesale power rates, customers of the Modern Electric Water Co. will not see a rate increase in 2012.
The budget, approved by the board of directors in December, includes a 7 percent increase in wholesale power costs from the Bonneville Power Administration, an increase in insurance costs and other higher costs of doing business.
The nonprofit utility decided not to pass those increases on to water or electric customers.
“Modern’s board of directors is very sensitive to the hard economic times that many of its customers are facing,” the company said in a news release. “Because of Modern’s consistent and conservative operations approach, along with its sound business practices, it is able to continue to offer low rates to customers without sacrificing good customer service or the financial health of the utility.”