SPRINGVILLE — A $2.19 million bond issue approved Tuesday by Springville's City Council will enable the city to finish the Whitehead Power Plant and eventually eliminate the need to buy power from outside sources.
The growing Utah County city lost nearly $1 million in May and June when national wholesale power rates unexpectedly skyrocketed.
Because the Whitehead Power Plant is not finished, Springville must purchase about 30 percent of its power on the open market.
If national power rates remain high, Springville residents will have to pay more for electricity on their monthly utility bill until the Whitehead plant is finished.
Tuesday's meeting was an open forum to allow public comment on the topic of rate increases — but only two people showed up to express their concern.
"We were surprised that more people didn't show up. We want the public's input" said City Councilman Craig Conover.
Springville residents could pay as much as $10 per month more on their utility bill depending on July power rates.
The council will decide Aug. 1 how much more residents will have to pay.
The Whitehead Power Plant has seven generators, but four are dormant. The sale of the bond will allow Springville to make all seven generators functional.
The project should be completed sometime this year, said Cal Baxter, city power manager.