Thu. Jun 13th, 2024

PRC approves USPS rate increase for July

May 30, 2024
PRC

READ FULL ARTICLE AT » PortalPrc

The Commission strongly encourages the Governors to consider exercising their

business judgment, consistent with statutory and regulatory requirements, not to

increase rates by the full amount permitted by law. Participants in the docket presented

a number of reasons why rate increases below the legal limit may be appropriate for

business and public policy reasons. The Commission recommends that, in exercising

their discretion, the Governors heed the concerns of stakeholders, particularly in light of

the facts that: rate increases have occurred more frequently than occurred previously

and than may have been expected by the mail market when the ratemaking system was

modified in Docket No. RM2017-3; some of the effects from the most recent rate

increases in January 2024 have yet to occur, let alone be understood; and service

performance and efficiency have declined by historic levels, adding to the stress on the

mail market. This combination of stressors may be unprecedented in the history of the

Postal Service. In addition, as of March 2024, the Postal Service had liquidity of

$16.150 billion, including cash, cash equivalents, short-term investments, and available

borrowing authority.3

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