2025 Corporate Operating Plan
COP Update Dec. 19, 2024
At their monthly meeting on Dec. 19, the Omaha Public Power District Board of Directors approved the utility’s $2.3 billion Corporate Operating Plan (COP) for 2025. The plan will help ensure a reliable, resilient power supply amid record load growth, new planning-reserve margin requirements and extreme weather this year that drove up costs. The 2025 COP includes an average rate increase of 6.3% across all customer categories. Residential customers will see an 8.4% increase. You may read more about this in this OPPD The Wire article.
Preliminary Corporate Operating Plan
OPPD has released its preliminary 2025 Corporate Operating Plan (COP). The COP lays out OPPD's budget roadmap for 2025 and provides customers and interested partners with insight into OPPD's plans for the coming year.
Ensuring your power is safe and reliable today and tomorrow, no matter the weather, is our top priority. OPPD’s proposed 2025 corporate operating plan and rate adjustment helps ensure we’re investing in work that supports reliability, resiliency and growth – while also dealing with challenges from unanticipated severe weather costs from 2024 and inflationary impacts. You may read more about this in this OPPD The Wire article.
You may leave your questions or comments about the COP in the questions tool below through Dec. 15.
There are a few key factors driving this year’s proposed adjustment:
- investments that support reliability and growth like new balancing stations, transmission and distribution assets, and increased vegetation management;
- an increase in our planning reserve margin requirements (or the amount of power we have access to when our region needs it most); and
- costs related to the unanticipated severe weather we experienced in 2024.
After an exhaustive, iterative planning process for 2025, OPPD is proposing an average rate of 9.44 cents/kwh across all customer classes. On average, this is a 6.3% increase. This will vary slightly by customer groups, but all customers will see some sort of increase.
Residential customers will see an average 8.4% increase on their monthly bill, representing an increase of around $9.44 on an average bill of $113. Then determining rates, OPPD follows proven rate-making principles that ensure that the customer categories (like residential or business) who most directly cause the need for and/or benefit from an investment are those who pay for it via their monthly rate.
Seeing a rate increase in an essential service like electricity can be challenging, and we want to navigate this impact with you. OPPD has tools and programs to help, and more information can be found online at oppd.com/EAP.
Learn More
OPPD leadership presented the 2025 Corporate Operating Plan, to the utility’s board of directors at their November meeting. You may watch the video presentation about the Preliminary 2025 COP by Vice President and Chief Financial Officer Jeff Bishop here. You can read the preliminary COP document here.
Next Steps
OPPD leadership will present the 2025 Corporate Operating Plan, including the proposed general rate and FPPA adjustments, to the utility’s board of directors at their November meeting. The board will take public questions on OPPD Community Connect through Dec. 15, culminating in a vote of the board at their December meeting the following week. If approved, the new rate will go into effect on Jan. 1, 2025.
If approved, beginning Jan. 1, 2025, OPPD will implement an average rate increase of 6.3% across all customer categories. Residential customers, on average, would experience a total increase of 8.4%.
Public Records Disclaimer
Nebraska's public records law may require OPPD to provide to interested persons, including members of the news media, copies of your communications to us, including your name and other contact information.
Do you have a question on the Preliminary 2025 Corporate Operating Plan? Please leave it below by Dec. 15. Please allow up to three business days for a response. All questions will be shared with subject matter experts, leadership and the OPPD Board of Directors.
