Columbia utilities set to increase Thursday

COLUMBIA, Mo. (KMIZ)

Columbia residents' electric, water, and trash utility rates are set to increase on Thursday.

The Columbia City Council approved the increase in a meeting on Aug. 3. The raised rates include:

• Electricity is raised by 6%.
• Water is raised by 10%.
• Trash is raised depending on size of trash cart.

The electric utility rate increase is expected to generate roughly $8.6 million, and the water increase is expected to generate $3.4 million.

The increase was implemented to help cover operational costs.

The electric increase will help cover higher energy procurement costs and a growing demand for infrastructure improvements. The water increase will help cover additional maintenance, operations, capital improvements, reserve levels, and debt coverage, according to previous reporting.

The increase is part of a larger trend.

Bank of America reported this month that average utility bills in August increased by about 5.3% year-over-year nationwide.

CBS News reported in February that regulators nationwide approved dozens of rate increases last year, citing an analysis by PowerLines.

Meanwhile, Ameren Missouri has requested a 10% rate hike for its electricity customers.

This is an ongoing story check back for updates.