The Wenatchee World

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Safety Valve: Letters from readers

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Tapping the ratepayers: Are you concerned about the 8-percent PUD rate increase? Well, get used to it because Grant PUD has promised the bond rating agencies (Moody’s, Fitch and S&P) an 8-percent rate increase per year up to and including 2015, in return for the AA3 bond rating from Moody’s and Fitch’s AA bond rating. This will be five years of 8-percent rate increases in a row. Part of the rate increases are to build PUD cash reserves to over $200 million to humor the rating agencies.

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