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MLGW News Release
 
MLGW Board Approves 2013 Budget — Highlights: Temporary Gas Rate Decrease, Modest Water Rate Increase, No Layoffs
October 19, 2012

The Memphis Light, Gas and Water Division Board of Commissioners approved the 2013 budget on Monday, October 15. After Monday’s
approval, the $1.8 billion budget will be presented to the City Council’s MLGW Committee on November 6; the full Council is scheduled to vote on MLGW’s 2013 budget November 20.

MLGW’s 2013 budget includes changes to the pension and medical plans, no layoffs, a modest water rate increase, and a temporary gas rate decrease that more than offsets the water rate increase for the average city water customer.

The proposed water rate increase of 7.1 percent will increase the average city residential water customer’s bill by 98 cents per month ($11.76 per year). However, a temporary gas rate decrease from January-March 2013 would provide an average credit of approximately $13.01 per customer, eliminating any negative impact from the water rate increase.

Despite the water rate increase, MLGW President Jerry Collins Jr. said, “MLGW's outstanding quality water will continue to be among the cheapest water supplies in the nation.”

The 2013 MLGW budget also includes the following highlights:

  • No layoffs.
  • Proposed changes to MLGW’s pension plan that would save $2.1 million and to MLGW’s medical plans that would save another $207,000.
  • A minimal wage increase of 1.25 percent as negotiated with the International Brotherhood of Electric Workers (IBEW) Local 1288.