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Item 4E Resolution 17-021, Suspending the April 21, 2017, effective date of Oncor Electric Delivery Company’s requested rate change Item 4E Good evening Mayor and members of the City Council. I am presenting item 4E Resolution 17-021. 1 Requested Action City Council approval Suspend Oncor requested rate change $317 Million 11.8% resident rate increase The purpose of this item is to seek Council approval of Resolution No. 17-02 to suspend the April 21, 2017 effective date of Oncor’s requested rate change. The increase equates to a $317 million dollar rise in Oncor’s service revenue. The impact to residential rates is 11.8% and street lighting will increase a half percent. Should no action be taken to suspend the effective date of the increase, it will be considered approved and a residential customer using 1000 kwh per month will see an additional $6.68 on their monthly electric bill. Approving the suspension will permit the City time to study the request and establish reasonable rates in coordination with the Steering Committee of Cities Served by Oncor. 2 City of Southlake Strategy Map The City of Southlake provides municipal services that support the highest quality of life for our residents, businesses, and visitors. We do this by being an exemplary model of balancing efficiency, fiscal responsibility, transparency, and sustainability. C1 Achieve the highest standards of safety & security C2 Provide travel convenience within City & region C4 Attract & keep top-tier businesses to drive a dynamic & sustainable economic environment Serve our Customers Manage the Business B1 Achieve best-in-class status in all City disciplines B2 Collaborate with select partners to implement service solutions B3 Enhance resident quality of life & business vitality through tourism B4 Provide high quality services through sustainable business practices B5 Enhance service delivery through continual process improvement B6 Optimize use of technology Provide Financial Stewardship Promote Learning and Growth F1 Adhere to financial management principles & budget F2 Invest to provide & maintain high quality public assets F3 Achieve fiscal wellness standards F4 Establish & maintain effective internal controls L1 Ensure our people understand the strategy & how they contribute to it L2 Enhance leadership capabilities to deliver results L3 Attract, develop & retain a skilled workforce L4 Recognize & reward high performers L5 Empower informed decision-making at all levels in the organization C6 Enhance the sense of community by providing excellent customer service and citizen engagement opportunities L6 Foster positive employee engagement Deliver on Our Focus Areas C5 Promote opportunities for partnerships & volunteer involvement C3 Provide attractive & unique spaces for enjoyment of personal interests Our membership with the Steering Committee and the group’s evaluation of the proposed rates aligns this item with the Southlake Strategic Objective B2 Collaborate with select partners to implement service solutions. 3 Questions? 4 Thank you for your consideration of this recommendation. I am available for questions.