Long Island American Water Receives New Rates
March 15 2012 - 5:05PM
Business Wire
The New York State Public Service Commission today approved an
order for Long Island American Water for a rate increase of
approximately $5.5 million, which averages out to an initial
increase of less than 3 cents per day for the typical residential
customer using 72,000 gallons per year. With the approved increase,
the cost of tap water for Long Island American Water customers is
still less than a penny per gallon.
Much of the rate increase was driven by Long Island American
Water’s capital investments put into service since the company’s
last rate case in 2007. “Since the last case, we’ve put more than
$50 million into maintaining and upgrading our pipes, pumps and
treatment plants to ensure that our water service meets or exceeds
all state and federal quality standards,” said Long Island American
Water President William Varley. “We are grateful that the Public
Service Commission has recognized our investment.”
The company’s capital investments also include the construction
of a $8 million iron removal treatment facility in the Town of
Hempstead, and the replacement and rehabilitation of more than 16
miles of aging water main, as well as valves, service lines and
other parts of the company’s more than 700-mile distribution
system.
By making proactive and prudent investments now, Varley believes
Long Island American Water saves customers money in the long run by
making sure that its water systems don’t fall into such disrepair
that they are more expensive to fix.
Long Island American Water, a wholly owned subsidiary of
American Water (NYSE: AWK), is the largest water supplier in Nassau
County, providing high-quality and reliable water services to
approximately 220,000 people.
Founded in 1886, American Water is the largest publicly traded
U.S. water and wastewater utility company. With headquarters in
Voorhees, N.J., the company employs more than 7,000 dedicated
professionals who provide drinking water, wastewater and other
related services to an estimated 15 million people in more than 30
states, as well as parts of Canada. More information can be found
by visiting www.amwater.com.
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