"MLGW and Birmingham Water Works Approve Double-Digit Rate Hikes for Customers"
Memphis Light, Gas & Water's board has approved a 12% electricity rate increase for three years starting in 2024, aimed at funding infrastructure improvements to enhance the region's electrical system reliability and reduce power outages. The increase, which amounts to about $5 per month for an average 1,000-kilowatt-hour customer, will not be used to fund MLGW's move to a new headquarters in East Memphis. The board also approved the purchase of 65 acres in Cordova for $31.4 million to establish the new headquarters, replacing the current one on Main Street.