SOUTH SIOUX CITY, Neb. (KCAU) — February’s extreme cold strained power grids across the nation. Now, South Sioux City is sorting through the fallout.
The city is currently considering its options for recovering utility funds lost during the 2021 polar vortex. Some of the options discussed with JEO Consulting include buying excess power at whole sale price and returning it to the grid at peak times to gain revenue, or keeping current utility pricing and using the surplus to recover the emergency funding.
“So any exposure that you have above your normal usage then is exposed to those rates and that’s what cause that increased hike for the the city of South Sioux City,” said David Peterson, with JEO Consulting Group.
The South Sioux City Finance Department will meet again next week to further consider its options.