08-079
CITY OF SHOREWOOD
RESOLUTION NO. 08- 079
A RESOLUTION AUTHORIZING A MONTHLY SURCHARGE
TO XCEL ENERGY RATEPAYERS IN SHOREWOOD
FOR THE PLACEMENT OF ITS FACILITIES UNDERGROUND
FOR THE COUNTY ROAD 19/5MITHTOWN ROAD/COUNTRY CLUB ROAD
INTERSECTION IMPROVEMENT PROJECT
WHEREAS, the facilities of Xcel Energy were placed underground as part of the
County Road 19/ Smithtown Road/Country Club Road intersection improvement project
during 2005-2006; and
WHEREAS, the difference in the cost between placing utilities underground and
replacing them overhead is not borne by Xcel Energy, but a determination by the City
Council as to the source of revenue to pay this difference in cost; and
WHEREAS, the City Council may authorize that this cost be paid by a surcharge
by Xcel Energy on all of its ratepayers within the City; and
WHEREAS, the City Council has reviewed the proposed terms of the surcharge
as follows,
Excess Expenditures = $79,500
Customer Class Customers Surcharl2"e(l) Months Recovery
Residential 2,785 $1.00 28.10 $78,248
Res Low Income 12 $1.00 28.10 $337
Small C&I ND 149 $1.00 28.10 $4,186
Small C&I 39 $3.00 28.10 $3,287
Large C&I (Over 1 MW) 4 $4.00 28.10 $450
Street Lighting 10 $1.00 28.10 $281
Sm Mun Pump ND 18 $1.00 28.10 $506
Small Mun Pump 2 $3.00 28.10 $169
Large Mun Pump 0 $4.00 28.10 $0
Total 3,019 $87,463
Total Carrying Charges included in recovery amount(2) $7,963
Adjustment possible in final months of recovery period for more precise cost recovery.
Monthly carrying charge of 0.9983% applies to outstanding balance, equal to compounded rate based on
8.81 % overall rate of return from the last general rate case (2005) and 3.85% tax factor.
2
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Shorewood that it authorizes the above monthly surcharge schedule for Xcel Energy
ratepayers within Shorewood for the County Road 19/5mithtown Road/Country Club
Road intersection improvement project.
ADOPTED BY THE CITY COUNCIL OF THIS CITY OF SHOREWOOD
this 10th day of November, 2008.
Christine Lizee, Mayor
ATTEST:
(J . istrator/Clerk
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