New York American Water Rate Increase Approved
The New York State Public Service Commission has approved new rates for New York American Water, effective June 1, 2017. The PSC’s rate order reflects an annual revenue increase of $3.6 million for New York American Water’s service areas in Long Island and the Hudson Valley after a 13-month review of the company’s rate request filed in April 2016. Even with the increase, the cost of water service for customers remains about a penny per gallon.
The main driver of the company’s rate request was the more than $136 million New York American Water invested to replace, rehabilitate and upgrade its treatment and distribution facilities over the last five years, including over 33 miles of water main, four iron removal treatment plants, and numerous valves, service lines, and hydrants. These improvements helped to enhance water quality, service reliability and fire protection for the communities served by the company. The company also reduced its operating expenses by approximately $2.7 million in the same timeframe.
“Over the last five years, New York American Water has made significant improvements to replace aging infrastructure and improve water quality for customers throughout our service areas,” said Carmen Tierno, president of New York American Water. “We remain committed to making needed investments in our water treatment and delivery systems to better serve our customers, while continuing to control our operating costs to help manage the impact to customers’ bills.”
New York American Water’s capital spending program is aligned with the federal government’s focus on the need for significant, ongoing investment to address the country’s aging water infrastructure. The EPA has reported that the nation’s water utilities need $384 billion in infrastructure investments over the next 20 years to replace aging water infrastructure and comply with stricter water quality standards, including more than $22 billion in the state of New York.
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