Press Release

Press Release
Eugene Water and Electric Board
Elizabeth Schulte
(503) 544-3338
 

Eugene Water and Electric Board Customers Remain Unaffected by Conservation Funding Cuts

 EUGENE, ORE.—The Bonneville Power Administration, EWEB’s long time electricity provider, has announced plans to reduce conservation funding region-wide. These cuts in funding, projected at 20 percent in 2014, 40 percent in 2015, and 55 percent in 2016, will be implemented in an effort to avoid raising utility rates. 

Because Eugene voters recently approved a bond measure in September of 2011 that allowed for the sale of $17 million in electric revenue bonds to finance a portion of EWEB’s latest Conservation Project, EWEB customers will not be affected by the BPA conservation funding cuts.

This bond sale is the first of its kind in the country, as a conservation project has never before been funded through tax exempt bonds, with the full cost of retiring the bonds paid by BPA. These bonds are unconditionally guaranteed by BPA and will not affect EWEB electric rates or taxes in the city of Eugene.  

As a result of the bond measure’s approval, EWEB’s current conservation project is set to continue. This project consists of a new weatherization program which provides financial assistance to customers with electrically-heated homes to install insulation and other weatherization measures. The bond financing project was undertaken because customers of EWEB had expressed interest in continuing the high-level residential weatherization program, despite a projected 50 percent budget cut in funding by the Bonneville Power Administration.

Due to potential cuts to home weatherization funding to Northwest utilities including EWEB, the Eugene utility provider and the BPA negotiated the sale of electric revenue bonds that would allow EWEB’s Home Weatherization Program to continue at then current levels through a “pilot program”. This program will provide EWEB with conservation funding over a three-year period.  

For more information regarding the sale of these electric revenue bonds or EWEB’s current weatherization project, please contact EWEB Public Relations coordinator Elizabeth Schulte at (503) 544 3338, or visit EWEB offices at 500 E. 4th Ave in Eugene.

 
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s