§ 676 — Rate Setting

Sec. 676. Rate Setting.

(a) Rate Setting Procedure. Subject to approval by ordinance, rates for water, reclaimed water, surplus water, electric energy and surplus energy shall be fixed by the board from time to time as necessary. Except as otherwise provided in the Charter, rates shall be of uniform operation for customers of similar circumstances throughout the City, as near as may be, and shall be fair and reasonable, taking into consideration, among other things: (1) the nature of the uses; (2) the quantity supplied; and (3) the value of the service. The rates inside the City may be less, but not greater, than the rates outside the City for the same or similar uses. (b) Individual Power Contracts. Rates for electric energy may be negotiated with individual customers, provided that these rates are established by binding contract, contribute to the financial stability of the electric works and are consistent with procedures established by ordinance.