2025: Growth, Projects & Workforce
It’s budget season! Join us in-person or online for our annual Budget Hearing on Monday, October 7th beginning at 5pm.
As is the case every year, the PUD’s draft annual budget is an evolving plan that undergoes many iterations. Finance Director Mike Bailey and General Manager Kevin Street first began presenting the commission components of the budget at meetings in late-July. The draft budget was reviewed in-full by the commission in August prior to its mandated posting to the PUD’s website in early-Sept. Updates and reviews were presented at additional September commission meetings prior to the PUD’s annual budget hearing Oct. 7th, where the public is invited to give testimony. The final budget must be approved by the commission on or before November 30th.
Purchased power makes up 34% of the total 2025 budgeted expenses. The 2025 electric work plan includes several large-scale, long-term projects including a new substation off Mill Rd in PT, and expansion of the Quilcene and Port Ludlow substations. The PUD has also budgeted for 18 new or vacant positions utility wide in 2025. Vegetation management will remain a top priority with $1M in funding allocated. Trees and branches are the number one cause of outages in our county. The 2025 budget also includes more spending and emphasis on safety internally and externally. As in prior years, there is no proposed increase to the PUD’s annual property tax assessment.
2025 will see an infusion of $11.3M in grant funds for rural broadband construction. The PUD team and contractors have turned the corner on the two largest buildout areas which are planned for completion in early-2025. Up next, the Jefferson North and Discovery Bay East grant projects which begin in early-2025.
PUD staff are part of an ongoing rate study by the FCS Group who are reviewing all aspects of the utility to determine potential rate adjustments in 2025. The FCS formal rate study will be presented to the board in late-2024. The only rate increases in the 2025 are for septic and sewer service which were set through 2026.