1. The 2027 Budget Was Adopted With No Rate Increase for Ratepayers The board unanimously approved MID's 2027 O&M and Capital Budget at approximately $599.8 million in total expenditures, balanced against $602.6 million in projected revenues. Overall expenses are down 5% compared to the 2026 budget, driven largely by a 49% reduction in debt service (thanks to the bond defeasance approved earlier this year) and decreased net power supply costs. Capital improvement spending increased, which the board noted was important given deferred infrastructure needs, and this was accomplished without any planned rate increase for 2027.
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