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May 27, 2020 <br />Elk River Municipal Utilities Commission <br />13069 Orono Parkway <br />PO Box 430 <br />Elk River, MN 55330 <br />Subject: Electric Rate Study <br />Commission Members: <br />Dave Berg Consulting, LLC has undertaken a study of the retail rates Elk River Municipal Utilities (ERMU) <br />charges its customers for electric service. This report summarizes the analyses undertaken and the <br />resulting recommendations for changes to the existing rates. <br />No increase in electric rates was implemented in January 2020 and no additional increase is <br />recommended in 2020. Rate increases of 1.5% each year from 2021-2024 are recommended. These <br />covenants. Specific rate adjustments for each year are provided for each rate class. <br />Thank you for the opportunity to be of service to ERMU through the conduct of this study. I wish to <br />express my appreciation for the valuable assistance I received from ERMU staff relative to the execution <br />of this study. <br />Sincerely, <br />Dave Berg Consulting, LLC <br />David A. Berg, PE <br />Principal <br />5ĻķźĭğƷĻķ Ʒƚ ƦƩƚǝźķźƓŭ ƦĻƩƭƚƓğƌ ƭĻƩǝźĭĻ Ʒƚ ĭƚƓƭǒƒĻƩΏƚǞƓĻķ ǒƷźƌźƷźĻƭ <br />Dave Berg Consulting, LLC | 15213 Danbury Ave W, Rosemount, MN 55068 | 612-850-2305 <br />www.davebergconsulting.com <br />61 <br />