The Electrical District No. 3 (ED3) board of directors approved its 2018 budget, which will see the 2018 electric rates go down an average of 2 percent for residential, commercial, small industrial, large industrial and agriculture.
The board met in executive session on the budget at the Oct. 25 meeting.
William Stacy, CEO and general manager of ED3, said the District has worked diligently to reduce costs and, for the third year in a row, will provide a rate decrease to its customers effective Jan. 1. ED3 estimated its average residential rates are 10 percent lower than Arizona Public Service.
Stacy said the nonprofit was able to cut costs through pooling management with Southwest Public Power Agency and other measures to save money.
“It helps that Maricopa is growing,” he said. “We’re adding new meter connections all the time.”
ED3 began operation in 1926, to provide area farmers with electricity to irrigate their crops and is a nonprofit utility currently serving an area of approximately 245,500 acres around Maricopa and Stanfield. The District operates 12 distribution level substations, approximately 1,034 miles of 12 kV lines (621 miles of overhead and 413 miles of underground) and 77 miles of 69 kV lines. The District currently serves approximately 25,005 residential, commercial, and irrigation meter connections.