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Fitch Ratings affirmed its ‘A+’ rating with a stable outlook on Benton PUD’s electric revenue bonds.
In response to growing customer interest in cryptocurrency mining and block chain operations, coupled with concerns about distribution system safety and reliability, Benton PUD’s Commission has approved an Electricity Intensive Load (EIL) policy. The policy addresses parameters that balance stewardship and fiscal responsibility for all of Benton PUD’s customers while offering cost-effective and reliable service to EIL customers. The policy defines EIL customers as:
Examples include, but are not limited to: server farms, an aggregation of microprocessor-based computing equipment within a home, garage or business, or special purpose data centers. EIL customers have unique load attributes that are different from typical residential and commercial customers. Because of this, Benton PUD must ensure that distribution facilities are adequate to meet the electricity intensive load. Overloading equipment poses a potential safety and reliability risk for both the customer and their neighbors. To address this concern, customers pursuing EIL operations, new EIL customers, and existing customers whose load meets the definition of EIL are required to notify Benton PUD that they meet the definition of an EIL customer. An assessment will be performed to ensure the distribution system can safely serve the load. Customers who fail to notify Benton PUD will be liable for damage to distribution system equipment caused by EIL operations. Customers must also complete a Business and Commercial Application for Electric Service and may be eligible for a different rate schedule. To sign-up for service or for more information about EILs.
Benton PUD Commission approved an overall 1.9% retail rate increase to all customer rate classes effective October 1, 2017. The increase is directly attributed to the Bonneville Power Administration’s (BPA’s) 5.4% average wholesale rate increase effective the same day. BPA is the primary provider of power to Benton PUD and its customers.