"This upgrade speaks to the stewardship of the city of Alameda’s Public Utilities Board and everything they have done to put AMP in its current strong financial position,” AMP General Manager Nico Procos said. “AMP’s rating upgrade from Fitch is a strong example of how community-owned utilities can thrive financially and serve the public."

The increase, which goes into effect July 1, will help Alameda Municipal Power (AMP) prepare for projects to improve aging infrastructure, such as cables, poles, transformers and circuit breakers. AMP continues to provide rates that average 17 percent lower than those in neighboring communities.

The rate increase also helps AMP continue to move toward a structure that ensures fairness for all customers by aligning the rates for each customer class with the cost of providing service. As a community-owned and locally operated electric system, AMP does not make a profit on rates. The rate increase also helps AMP continue to move toward a structure that ensures fairness for all customers by aligning the rates for each customer class with the cost of providing service.

As a community-owned and locally operated electric system, AMP does not make a profit on rates.Revenue from electricity sales in Alameda goes toward operation of the electric system and to improving community services for Alamedans through AMP’s annual transfer of more than $5 million to the city’s general fund. In 2016, Alameda voters approved the Utility Modernization Act, the annual transfer to the city’s general fund to support city services.

AMP offers a variety of programs and services for customers who are in­terested in understanding their energy use or who are having trouble paying their utility bills. The programs include a free, in-house energy review; the energy assistance program for qualifying low-income customers; and a medical discount program. Visit the Alameda Municipal Power website to find more information on AMP’s rates and how to manage energy usage.