At Tuesday's meeting of City Council's Austin Energy Utility Oversight Committee, AE representatives explained how dramatically increased usage and higher congestion costs caused in part by the shutdown of the Decker Creek Power Station resulted in the utility spending $115 million more than budgeted through the conclusion of the fiscal year that ended in September.
"As you know, we had a very hot summer this year, which resulted in elevated market prices as well as some pretty material congestion costs that we incurred over the fiscal year," she said. "We had a 5 percent increase in October, and again in December to start making some headway to recover these costs. We have seen some over-recovery in the last couple of months and we just came out with our results for November and we are still materially under-recovered, but we've made some headway."
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