MEMPHIS, TN (WMC) - Tuesday’s Memphis City Council meeting was a marathon, lasting nearly five hours.
The meeting ended with the much-debated proposed MLGW rate increases.
Starting in March, you will see an increase, but not by much.
Here's the breakdown.
There will be no increase in your gas or electric bill, but they did increase a three percent increase in your water bill, adding up to about an additional 45 cents per bill cycle.
MLGW has been pushing a rate hike for months to fund improvements across gas, electric and water divisions.
Council members were concerned about the financial impact on families and the possibility that down the road, MLGW could get power from a cheaper source than TVA.
But MLGW argues they need to make significant improvements to their infrastructure, some dating back to the 1930′s.
There was also concern that without extra revenue MLGW could soon be operating in the negative.
Tuesday night’s vote was nowhere near what they were asking for.
“We’re going to have to, council had a hard decision to make,” said MLGW CEO J.T. Young. “I’m sure they had a lot of challenges they were trying to consider. We were as well. We tried to make our best case and we’ll sit down and regroup and figure out where do we go from here. Still got to look through that.”
Young said the board will have to go back and ratify the changes made to tonight at council.
WMC5 asked if MLGW customers can expect another proposal for a rate hike next budget cycle, and he says it’s possible.