{"id":992,"date":"2023-06-28T00:00:00","date_gmt":"2023-06-28T04:00:00","guid":{"rendered":"https:\/\/djpbl1vktd.wpdns.site\/brightridge-board-approves-balanced-fy-2024-budgets-budgets-1-3-million-for-customer-credits\/"},"modified":"2024-06-07T15:40:46","modified_gmt":"2024-06-07T19:40:46","slug":"brightridge-board-approves-balanced-fy-2024-budgets-budgets-1-3-million-for-customer-credits","status":"publish","type":"post","link":"https:\/\/brightridge.com\/es\/brightridge-board-approves-balanced-fy-2024-budgets-budgets-1-3-million-for-customer-credits\/","title":{"rendered":"La Junta de BrightRidge aprueba presupuestos equilibrados para el a\u00f1o fiscal 2024; presupuesta $1,3 millones para cr\u00e9ditos a clientes"},"content":{"rendered":"<!-- Hero Cached -->\n<style>\n.hero-contain{max-width: 1440px;margin-right:auto;margin-left:auto}\n#hero-section{\n  background-image: url(https:\/\/brightridge.com\/wp-content\/uploads\/2024\/06\/News-Articles.png);\n  background-position: center center !important;\nbackground-position-y:% !important\n}\n#hero-section > .mask{\n  background-color: #000000A1 !important;\n}\n<\/style>\n<div id=\"hero-section\" class=\"text-center bg-image fs-18\">\n    <div class=\"mask py-5 px-6\">\n        <div class=\"hero-contain d-flex justify-content-start align-items-end h-100\">\n            <div class=\"lh-sm text-white\">\n<div class=\"text-start breadcrumbs\">        <div class=\"breadcrumb-container theme1\">\r\n                    <ol>\r\n                    <\/ol>\r\n        <script type=\"application\/ld+json\">\r\n        {\r\n            \"@context\": \"http:\/\/schema.org\",\r\n            \"@type\": \"BreadcrumbList\",\r\n            \"itemListElement\": [\r\n                            ]\r\n        }\r\n    <\/script>\r\n    <style type=\"text\/css\">\r\n        .breadcrumb-container {\r\n            font-size: 13px;\r\n        }\r\n\r\n        .breadcrumb-container ul {\r\n            margin: 0;\r\n            padding: 0;\r\n        }\r\n\r\n        .breadcrumb-container li {\r\n            box-sizing: unset;\r\n            display: inline-block;\r\n            margin: 0;\r\n            padding: 0;\r\n        }\r\n\r\n        .breadcrumb-container li a {\r\n            box-sizing: unset;\r\n            padding: 0 10px;\r\n        }\r\n\r\n        .breadcrumb-container {\r\n            font-size: 16px !important;\r\n            padding: ;\r\n            margin: ;\r\n        }\r\n\r\n        .breadcrumb-container li a {\r\n            color: #389eff !important;\r\n            font-size: 16px !important;\r\n            line-height: 16px !important;\r\n        }\r\n\r\n        .breadcrumb-container li .separator {\r\n            color: #c5c5c5 !important;\r\n            font-size: 16px !important;\r\n        }\r\n\r\n        .breadcrumb-container li:last-child .separator {\r\n            display: none;\r\n        }\r\n\r\n            <\/style>\r\n    <style type=\"text\/css\">\r\n        .breadcrumb-container.theme1 li {\r\n            margin: 0;\r\n            padding: 0;\r\n        }\r\n        .breadcrumb-container.theme1 a {\r\n            background: #ffffff;\r\n            display: inline-block;\r\n            margin: 0 5px;\r\n            padding: 5px 10px;\r\n            text-decoration: none;\r\n        }\r\n    <\/style>\r\n        <style type=\"text\/css\">\r\n        .breadcrumb-container{}\r\n.breadcrumb-container ul{}\r\n.breadcrumb-container li{}\r\n.breadcrumb-container a{}\r\n.breadcrumb-container .separator{}\r\n    <\/style>\r\n    <script>\r\n            <\/script>\r\n        <\/div>\r\n        <\/div>\n                <h1 class=\"mb-3 lh-1 text-start fs-72 text-white fw-400\">BrightRidge Board approves balanced FY 2024 budgets; budgets $1.3 million for customer credits<\/h1>\n                <div class=\"fw-normal text-start h5 mb-1\"><hr \/>\n<p>\u00a0<\/p><\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<div class=\"gb-container gb-container-311a9734\">\n<div class=\"gb-container gb-container-58f7ce2d\">\n<div class=\"gb-container gb-container-56edb767\">\n\n<p class=\"wp-block-paragraph\"><strong>JOHNSON CITY<\/strong> &#8211; BrightRidge unanimously adopted a balanced Fiscal Year 2024 budget this week without an increase in local electric or broadband rates. With the budget balanced, the BrightRidge Board of Directors voted to return $1.3 million to residential and small commercial customers through July bill credits.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWith stable cash flows projected for the next five years, BrightRidge continues to prioritize the needs of our customers while investing in service access,\u201d BrightRidge CEO Jeff Dykes told the BrightRidge Board of Directors on Tuesday. \u201cAlthough electric sales continue a decade-long flat trendline, overall margin growth is projected to cover capital, administrative and maintenance costs without a local rate increase.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the Electric Division, BrightRidge has consistently demonstrated its commitment to affordable electric power by forgoing any local rate increase during the past five years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, BrightRidge\u2019s strong financial position allowed the BrightRidge Board of Directors to approve $1.3 million in July bill credits for residential and small commercial electric customers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is an estimated 11% savings on an average customer bill. Funding comes from the Tennessee Valley Authority&#8217;s Pandemic Recovery Credit paid to local power companies like BrightRidge to offset inflation costs, supply chain delays and lower demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Including the final $1.3 million distribution, BrightRidge has credited $5.1 million to residential and small commercial customers since 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Weather is the largest driver of sales in the BrightRidge electric service area. Peaky weather conditions cause poor load factors, with load factor measuring the ratio between sales volume and peak demand, according to BrightRidge Chief Financial Officer Brian Bolling. TVA bills local power companies for peak demand as well as wholesale usage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cPeaky weather conditions, where temperatures spike or plummet, but then recover towards average temperatures in a short period of time, stress the electric system and the budget,\u201d Bolling said. \u201cOur Board of Directors understand we are at the mercy of weather when it comes to projecting a budget.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wholesale power costs paid to the Tennessee Valley Authority account for 75.6 percent of the Electric Division&#8217;s total budget. Operating expenses are projected to rise by $230,500 or 1.37 percent, reflecting the company&#8217;s commitment to efficient service delivery.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">BrightRidge also remains the largest taxpayer for both the City of Johnson City and Washington County, supporting local governments and taxpayers through $6.33 million in budgeted tax payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, BrightRidge Broadband continues to invest in expanding its customer network and improving connectivity throughout the region. The budget authorizes $23.5 million in capital projects to accelerate fiber Broadband deployment by 24 months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By the end of FY 2024, BrightRidge Broadband fiber anticipates passing 53,423 electric system locations, 50 percent more than initial business plan projections.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Our budgets reflect dedication to customer satisfaction, technological advancement, and community growth,\u201d Dykes said. \u201cWe remain committed to providing dependable, affordable, cutting-edge services to our customers.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em><strong>About BrightRidge<\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>BrightRidge is a leading provider of electric and broadband services in the region, serving 82,610 customers in Sullivan, Washington, Greene and Carter counties. With a fundamental focus on affordability, customer satisfaction, innovation, and community development, BrightRidge is committed to delivering reliable high-speed services to customers.<\/em><\/p>\n\n\n<div class=\"gb-container gb-container-98270934\">\n<div class=\"gb-container gb-container-412fbb2e\">\n\n<h3 class=\"gb-headline gb-headline-a924cc47 gb-headline-text\">About BrightRidge<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">BrightRidge is a publicly owned electric utility serving 83,671 customers in Washington, Sullivan, Carter and Greene counties. It is the 10th largest local power company in the Tennessee Valley Authority service area. BrightRidge Broadband, a division of BrightRidge, offers nation-leading 10GB symmetrical fiber-to-the-premise services to more than 30,000 locations in its service area.<\/p>\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p><b>CIUDAD DE JOHNSON<\/b> \u2013 BrightRidge adopt\u00f3 por unanimidad esta semana un presupuesto equilibrado para el a\u00f1o fiscal 2024 sin un aumento en las tarifas locales de electricidad o banda ancha. Con el presupuesto equilibrado, la Junta Directiva de BrightRidge vot\u00f3 a favor de devolver $1,3 millones a clientes residenciales y peque\u00f1os comerciales hasta los cr\u00e9ditos en las facturas de julio.<\/p>","protected":false},"author":1,"featured_media":2558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_searchwp_excluded":"","scheme-type":"","footnotes":""},"categories":[32],"tags":[],"wf_post_folders":[],"class_list":["post-992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BrightRidge Board approves balanced FY 2024 budgets; budgets $1.3 million for customer credits - BrightRidge Electric<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/brightridge.com\/es\/brightridge-board-approves-balanced-fy-2024-budgets-budgets-1-3-million-for-customer-credits\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BrightRidge Board approves balanced FY 2024 budgets; budgets $1.3 million for customer credits - BrightRidge Electric\" \/>\n<meta property=\"og:description\" content=\"JOHNSON CITY - BrightRidge unanimously adopted a balanced Fiscal Year 2024 budget this week without an increase in local electric or broadband rates. 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