Yesterday and Today I read in the News Journal that the City of Newark had tried to raise the U of D electric rates without raising the other electric customers' rates.
Most of the story in the paper is asking why did the City attempt to raise the UD's in violation of the contract between the City and the UD (which aparently limits the UD rate increases to the increases applied to other Newark electric customers).
I suspect that the real story is... why didn't the City raise the electric rates for all of its customers? And how much is that going to cost the city?
Doesn't the City of Newark buy its electricity elsewhere? Didn't all of those costs raise dramatically several months ago? All except the re-sold Newark electricity.
If Newark is having to pay more for its electricity now, and it hasn't raised its rates, I suspect that the loss to the City will be much larger than the reported 1.5 Million or 1.7 Million that it will lose from the UD contract.
I think that more needs to be learned about this problem.
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