This comment is regarding Item N on the meeting agenda references Power Cost Adjustment (PCA) for the Utility meeting to be held on October 25 2022.

How can this Board of City Commissioners justify the validity of the changing Power Cost Adjustments? Power Cost Adjustments should be derived solely from any shortfall in revenue collected from the sale of electricity verses the cost of supplying electricity! It is a simple equation – a shortfall between how much was spent to supply electricity verse how much was collected to supply electricity! 

In reviewing the 2021 City of Lake Worth Beach Financial report, it is unclear how much Lake Worth Utilities collects in revenue solely from the sale of Electricity. This number is buried within the total City of Lake Worth Beach total yearly revenue. As a Citizens owned company, this number should be public information and contained, transparently, within this report. If it is there – please point it out to us!

Without the transparency of the revenue of collected from supplying electricity  to balance it against the 54.9 million reported in funds spent to supply electricity, how are we the rate payer supposed to: see the need  or validity for any Power Cost Adjustments at all – let alone a varying one!, The dollars amounts are now such that, we the rate payer cannot take the City Board of Commissioners word for it anymore!  We need to see a transparent and  accurate accounting of these Power Cost Adjustment requests and implementations !