Long Island American Water Receives New Rates
Dateline City:
LYNBROOK, N.Y.
Maintains reasonable cost for water service at less than a penny per gallon
LYNBROOK, N.Y.--(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.
Language:
English
Contact:
Long Island American Water
Peter Eschbach, 856-723-0862
peter.eschbach@amwater.com
Ticker Slug:
Ticker: AWK Exchange: NYSE
Maintains reasonable cost for water service at less than a penny per gallon
LYNBROOK, N.Y.--(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.
Long Island American Water
Peter Eschbach, 856-723-0862
peter.eschbach@amwater.com