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Here is why Peoria residents' utility bills will go up significantly

Could increase more than 10% in 2024

Peoria residents could expect a utility rate increase of more than 10% in 2024, according to a recent city council study session.

The jump reflects a number of significant economic changes over the years related to the pandemic, drought, rapid inflation, fuel, supply chain issues, and the slowdown in the housing market.

All these factors are impacting the cost recovery model and have rendered past comprehensive rate studies no longer viable, officials say.

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