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MLGW to Remove AeroDerivatives from 2024 Budget
December 4, 2023
The Memphis City Council is scheduled to vote on Memphis, Light, Gas and Water’s 2024 Capital and Operating budget on Tuesday, December 5. However, MLGW CEO Doug McGowen notified council members of a necessary change to capital projects related to energy production.
Based on a new forecast in TVA’s ability to continue to reliably meet the electric power needs of existing customers and accommodate additional new commercial customers in the future, MLGW is removing AeroDerivative gas-fired electric generators from the proposed 2024 budget.
Based on a new forecast in TVA’s ability to continue to reliably meet the electric power needs of existing customers and accommodate additional new commercial customers in the future, MLGW is removing AeroDerivative gas-fired electric generators from the proposed 2024 budget.
Instead, MLGW will request that proceeds from planned revenue bonds be allocated to accelerate resilience in the form of battery storage and solar generation that were originally planned for 2025. The battery storage and solar generation projects will be self-sustaining and have no negative impact on customer rates.
The final budget proposal can be viewed on mlgw.com.
Memphis Light, Gas and Water is the largest three-service public power utility in the nation, serving the residents of Memphis and Shelby County, Tennessee since 1939. MLGW consistently provides customers with rates that are amongst the lowest in the nation and stewards a water supply from artesian wells that is minimally treated. Actively engaged in promoting the prosperity of Memphis and Shelby County, MLGW supports the seven local chambers in its service area and makes doing business with local, minority- and women-owned business a priority. Deeply rooted in the community, its employees generously donate time and money in support of bettering the Greater Memphis area.
Memphis, TN 38103