- Seattle to raise electricity tariffs annually
- Tariffs to go an average of 3.5% annually
Seattle’s City Council unanimously approved a multi-year tariff hike in electricity tariffs until 2026. The increases are part of Seattle City Light’s new strategic plan. As a result, residential customers are projected to see an increase in electricity monthly bills from $77 to $91 over the next five years.
The rates will go up by 3.9% next year, a 3.8% increase in 2023, a 3.8% increase in 2024 and finally 3% in 2025 and 2026. Seattle City Light noted a sharp decline in electricity usage in the overall electricity usage due to the pandemic. While residential use increased due to remote work, there was a decrease in commercial usage of electricity.
According to City Light Chief Financial Officer Kirsty Grainger, Seattle residential customers pay more for electricity supply than commercial customers due to delivery costs and economies of scale.