The city of Corvallis has new 10-year franchise agreements with Consumers Power and PacifiCorp. The agreements were made official this week by the City Council.

PacifiCorp’s Pacific Power provides most of Corvallis with electricity, with the Consumers Power cooperative serving primarily the part of the city north of Walnut Boulevard and west of Satinwood Street.

The agreements give the two companies access to public property and rights-of-way in exchange for a 5 percent fee taken from each company’s gross earnings from providing electric service to the city.

Mary Steckel, administration division manager for the city, said negotiating new agreements doesn’t mean rates will increase for customers, but it will cement the supply of franchise money for the city for 10 more years.

Franchise fees are the second-highest form of income for the city after property taxes. Cable, natural gas and telephone utilities all pay the fees, which add up to about $3.5 million each year.