Credit coming to CPW customers
Consumers could see average of $90 refund
Friday, July 11, 2014 12:00 AM
The Greenwood Commissioners of Public Works received an unexpected windfall Thursday morning.
In anticipation of additional revenue from Duke Energy’s True-Up program, the Greenwood CPW budgeted $500,000. But Tuesday, CPW Manager Steve Reeves said the Duke Energy would pay Greenwood CPW $2,176,594.
“True-Up is where Duke goes back and looks at what we paid for power and adjusts it, either up or down, and provides us with the funds depending on how their year went,” Reeves said.
Reeves offered the Board of Commissioners two proposals for the funds. Topping off the Rate Stabilization Fund at $5 million was one option.
“Right now, we’re within $400,000 to $500,000 to meet that $5 million cap,” Reeves said.
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