The City dividend collected by the Lincoln Electric System (LES) has changed for fiscal year 2015-16, which begins today. The dividend is a payment to the City for its ownership of LES, and it was established in 2011 by a City ordinance.
The City dividend is identified separately on LES bills. Customers in each rate class pay a comparable City dividend relative to their use of the LES system. The following table shows the rates.
|Rate Class||2014-15 Dividend||2015-16 Dividend|
|Residential||$2.15 per bill||$2.25 per bill|
|General Service||$3.15 per bill, single phase
$9.60 per bill, three phase
|$3.00 per bill, single phase
$9.45 per bill, three phase
|Heating Service||$5.25 per bill, single phase
$15.25 per bill, three phase
$55.00 per bill, large service
|$5.55 per bill, single phase
$16.10 per bill, three phase
$59.00 per bill, large service
|General Service Demand||$0.00185 per kilowatt hour||$0.00203 per kilowatt hour|
|Large Light and Power||$0.00194 per kilowatt hour||$0.00211 per kilowatt hour|
|Large Power Contract||$0.00155 per kilowatt hour||$0.00160 per kilowatt hour|
|Traffic Lighting||$0.26 per bill||$0.24 per bill|
|Street Lighting||$1.00 per bill||$1.00 per bill|
The dividend supplements the in-lieu-of-tax payment LES pays to local governmental entities each year. The City received $6,788,424 from the dividend in 2013-14 and $7,029,648 in 2014-15. The dividend goes into the City's General Fund, which funds basic City government services.