City will use reserve funds to pay increased electric bill
STEVE SMITH • SSMITH@LACLEDERECORD.COM
Lebanon hit peak usage rates during its 14 days in the deep freeze last month resulting in some major increased costs, Public Works Director Richard Shockley told the Lebanon City Council Thursday night.
At a work session meeting, Shockley delivered a report on the effect of the extremely cold February weather. He said the city owes $2.1 million to the Missouri Public Energy Pool (MoPEP) and expects to pay this off over about a year using reserve funds.
The city expects to pay $180,000 to $210,000 a month for 10 to 12 months.
For more on this story see Saturday's LCR.