HANNIBAL (WGEM) - The Hannibal Board of Public Works will be implementing a 6% electric rate increase on Oct. 1.

For the third time in three years, the HBPW is implementing an electric rate increase.

“Demand has [gone] up here, supply has shrunk down,” said Erica Mitchell, HBPW Customer and Community Relations coordinator.

On Sept. 15, the board had agreed that an 11.2% increase was needed to put them in a good financial position. However, a 6% total was reached with an option to increase it at a later date.

The last two increases took place in 2023 and 2024 at totals of 9.25% and 9% respectively. The board said it was done to offset the $12 million they spent on spending power.

“Over the past three years, those electric rate increases have only covered $4 million,” Mitchell explained

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