Chelan PUD Commissioners Approve 2020 Budget

Chelan County PUD commissioners recently approved their 2020 spending plan.

The utility will spend about $440 million next year, about ten percent more than last year's budget.

Chelan PUD forecasts ending 2020 $58.1 million in the black. That number is down about $20 million from 2019 and matches a year-to-year increase in capital spending by $20 million. Total capital spending for 2020 should come in around $170 million.

The utility has several major capital projects on the books in 2020. Rocky Reach and Rock Island dams will see continued upgrades, repairs and modernization. On top of that, construction will begin on the Chelan PUD's Service and Operations Center in North Wenatchee. Four substations will either begin construction or repair projects in 2020 as well.

Chelan PUD will also spend down their debt by roughly $40 million.

Spokesperson Neil Neroutsos said Fitch Ratings affirmed their AA+ rating with a stable outlook.

"What that really means in part is that when you go out and look at borrowing money, issuing bonds in a future year, that helps the rate at which you can borrow." explained Neroutsos, "It also puts us among one of the most highly rated utilities in the country. It reinforces that the utility is being well managed and managed prudently."

Neroutsos added that the strategic planning process also provided valuable insight.

"The strategic planning process really was a key piece to what we do as part of our planning efforts." Neroutsos said, "We thank our many customers who contributed in that process and gave us some direction on the types of things they would like to see us focus on in the coming years."

Expanding the utility's fiber network was a priority identified through community input, among other issues.