(Atlantic, Iowa) – Customers of Atlantic Municipal Utilities (AMU) shouldn’t expect to see any rate increases next year for their electricity and water service. AMU General Manager Steve Tjepkes reported the good news to the Atlantic City Council during their meeting Wednesday evening.

Tjepkes said the last increase in the water rate was 5-percent in 2023. AMU’s Capital Budget for 2024 is $1.9-million. In the past, a good chunk of their budget (50%)was spent on power purchased from the Council Bluffs coal plant and Purchase Power contracts (50%). Last year, the wholesale market price of power decreased 45-percent. Electricity market prices, he said, are driven by the price of natural gas.

AMU GM Steve Tjepkes speaks to the Atlantic City Council (12/6/23)

Tjekpes noted both the Electric and Water Departments are debt-free. The Electric Dept. paid-off the remaining $2.525-million of outstanding debt in 2022. He said also, AMU received a “National Excellence in Reliability Award” from the American Public Power Association (APPA).

Steve Tjepkes said also, with regard to Capital Projects, is the replacement of customers’ water meters.

The utility is in the process of engineering and planning for the replacement of an underground water storage tank with an above ground tank. Tjepkes says the current estimated project cost is $1.8-million. AMU will be applying for a grant to offset a portion of the cost.

At the conclusion of his presentation to the Council, Wednesday night, the Council passed a Resolution approving the Calendar Year 2024 AMU Budget, which the AMU Board approved Monday night, following a public hearing. The Resolution will be filed by the City Clerk and forwarded to the Cass County Auditor’s Office.