YORK, Pa., May 30, 2018 (GLOBE NEWSWIRE) -- The York Water Company (NASDAQ: YORW ) on May 30, 2018 asked the Pennsylvania Public Utility Commission for a general increase in base rates.
Jeffrey R. Hines, President and CEO of York Water, said the Company is asking for a $6.4 million increase in annual water revenues, and a $288,623 increase in annual wastewater revenues.
The Company’s filing with the PUC also requests to combine in part, the revenue requirement for the Company’s wastewater operations with the Company’s water operations as authorized by legislation enacted in 2012.
Hines said the increase is necessary due to approximately $77 million in capital investments that the Company has made since its 2013 rate filing and will make through February of 2020. The capital investments are necessary to: reinforce, replace, and reline aging water mains; replace service lines, meters, and hydrants; construct an untreated water pumping station on Lake Redman to increase security, reduce costs, and provide redundancy in case of emergencies; increase water quality and operational efficiency through upgrades to facilities and equipment; expansion and improvements of the water and wastewater treatment plants and other facilities to better meet current and upcoming regulations; and for replacements and upgrades of other infrastructure, including York Water’s water supply dams.
Hines said: “Costs to be recovered in this rate filing include replacement costs for over 40 miles of aging pipeline, about 4% of our total pipe, which extends the life of our infrastructure, reduces costs associated with main breaks and leaks, and provides improved customer service and reliability. In addition to these capital investments, we are also seeking to recover increased costs such as personnel expenses, depreciation, and increases in normal operations and maintenance expenses. York Water remains one of the most efficient water utilities in the nation, continuing to reduce or eliminate various expenses since its last rate case, including reduction in income taxes from the 2017 Tax Act and tax repair deductions. This has helped to offset and delay this proposed increase in rates.”
The York Water Company is the oldest investor-owned water utility in the United States serving approximately 198,000 people in 48 municipalities in York and Adams Counties, South Central, Pennsylvania.
Contact: Jeffrey R. Hines, President and CEO or Matthew E. Poff, Chief Financial Officer Phone: 717-845-3601
