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Pacific Power has asked regulators to allow it to increase rates 16.9%, or about $29.47 per month on average for residential customers in Oregon.
Depending on the utility, rates will increase 3% to 5%. In 2023, Fort Collins Utilities customers saw their rates go up by the same amount.
The median monthly mortgage payment just hit an all-time high of $2,632 in the US, and mortgage rates are still near a two-decade high.
Members of the Monetary Policy Committee voted eight to one to raise rates from the historic low of 0.1%.