2024 Corporate Operating Plan

COP Update Dec. 21, 2023

At their monthly meeting on Dec. 21, the Omaha Public Power District Board of Directors approved the utility’s $2.1 billion corporate operating plan for 2024. The plan includes a modest general rate increase to help maintain robust and reliable electrical service amid rising costs and growing customer demand.

Today is a time of change in the utility industry. Utilities must embrace innovation and move quickly to find new and better ways to deliver affordable, reliable and environmentally sensitive energy services to you, our customer-owners.

Preliminary Corporate Operating Plan

OPPD has released its preliminary 2024 Corporate Operating Plan (COP). The COP lays out OPPD's budget roadmap for 2024 and provides customers and interested partners with insight into OPPD's plans for the coming year.

As part of OPPD’s 2024 Corporate Operating Plan (COP), leadership is recommending an average 2.5% increase in retail rates across all customer classes for 2024. Depending on the cost of service, this impact could be higher for some customers based on their usage. You may read more about this in this OPPD The Wire article.

You may leave your questions or comments about the COP in the questions tool below through Dec. 17.

The rising costs of net power to serve our load, both existing and new growth, is contributing to the proposed rate action. In addition, OPPD continues to invest in work that supports the reliability, resiliency, and overall health of our system during a transformational period for OPPD and the industry as a whole. Additionally, budget priorities for 2024 include modernizing infrastructure and putting programs into place that allow customers to better manage their energy use, which allows them more control over their energy bills.

While OPPD never wants to issue a rate increase, this average increase remains below the average rate of inflation in the United States. The monthly impact of the rate change on an average residential customer bill of $111 will be $0.44. Over the course of the year this would equal an annual impact of $5.28 for the average residential customer. This modest rate increase will ensure that OPPD maintains this competitive edge regarding rates while also supporting the overall health of our operations.

Now, more than ever, customers can control the impact of the rate increase on their bill. Because the rate is calculated based on energy usage, if customers conserve energy, the impact will be less. OPPD has strategies and tools to help with energy efficiency, including how-to videos, at oppd.com/ee.

Learn More

OPPD leadership presented the 2024 Corporate Operating Plan, including the proposed general rate and FPPA adjustments, to the utility’s board of directors at their November meeting. You may watch the video presentation about the Preliminary 2024 COP by Vice President and Chief Financial Officer Jeff Bishop here. You can read the preliminary COP document here.

Next Steps

The board will take questions on OPPD Community Connect through Dec. 17, culminating in a vote at their December meeting the following week. If approved, the new rate will go into effect on Jan. 1, 2024.

Public Records Disclaimer

Nebraska's public records law may require OPPD to provide to interested persons, including members of the news media, copies of your communications to us, including your name and other contact information.