Power supplier’s finances headed into 2022

Westminster’s Kevin Bronson and his fellow board members at the PMPA learned during last week’s meeting that the electric power provider is in good financial shape headed into the New Year.  “Several bonds were refinanced last year due to lower interest rates available in the bond market,” Bronson said.  “The refinancing is expected to save interest costs in the upcoming years.”  He also said Westminster so far this year received a monthly credit for $34,740.36 for a 2021 total of $382,143.96.  Each month, once the electricity is delivered to Westminster and the cost is calculated, the credit is then applied. No increase in the cost of Westminster’s wholesale power supply is anticipated for the next 12 months or so.