Indiana American Water Settlement Agreement Approved By State Utility Regulatory Commission
June 29, 2019 at 2:01 a.m.
By Staff Report-
Details of the agreement are contained in an order issued Wednesday by the IURC.
“We appreciate the cooperation of the Office of Utility Consumer Counselor and other interested parties in this proceeding to work toward and reach a negotiated settlement in this case,” said Indiana American Water President Matt Prine. “We believe the terms embodied in this agreement and the IURC’s order are both reasonable and fair and in the best interests of our customers across the state.”
During the period covered by the rate request, Indiana American Water invested more than $542 million in its water systems across the state to ensure reliable service to customers, a news release from the water company stated. The order includes a 7.9 percent overall increase in operating water revenues, primarily based on that investment. The increases approved by the IURC will be implemented in two steps, with the first increase of 1.99 percent effective Monday and a second increase in May of 5.79 percent.
The impact for most of the company’s residential customers using 4,000 gallons of water each month would be about 34 cents per month (0.96 percent) after step 1 goes into effect and an additional $2.22 per month (6.3 percent) when the second step is implemented.
Details on specific rate impacts by district, rate group and customer class will be posted on the company’s website at https://amwater.com/inaw/customer-service-billing/your-water-rates after the company’s rates and tariffs are filed and approved by the IURC.
The IURC also issued a final order dealing with the impacts of the Tax Cuts and Jobs Act (TCJA) of 2017. The order provides a one-time refund reflecting the amount collected in revenues after the TCJA was implemented, but before rates were changed, to be distributed to customers over a 12-month period starting in May 2020. The refund for the typical residential customer will total approximately $19.26, or approximately $1.60 per month for one year. Indiana American Water already reduced its rates by 4.4 percent on Aug. 1 as a result of the impact of the TCJA.
Indiana American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to more than 1.3 million people, according to the release. With a history dating back to 1886, For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.
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Details of the agreement are contained in an order issued Wednesday by the IURC.
“We appreciate the cooperation of the Office of Utility Consumer Counselor and other interested parties in this proceeding to work toward and reach a negotiated settlement in this case,” said Indiana American Water President Matt Prine. “We believe the terms embodied in this agreement and the IURC’s order are both reasonable and fair and in the best interests of our customers across the state.”
During the period covered by the rate request, Indiana American Water invested more than $542 million in its water systems across the state to ensure reliable service to customers, a news release from the water company stated. The order includes a 7.9 percent overall increase in operating water revenues, primarily based on that investment. The increases approved by the IURC will be implemented in two steps, with the first increase of 1.99 percent effective Monday and a second increase in May of 5.79 percent.
The impact for most of the company’s residential customers using 4,000 gallons of water each month would be about 34 cents per month (0.96 percent) after step 1 goes into effect and an additional $2.22 per month (6.3 percent) when the second step is implemented.
Details on specific rate impacts by district, rate group and customer class will be posted on the company’s website at https://amwater.com/inaw/customer-service-billing/your-water-rates after the company’s rates and tariffs are filed and approved by the IURC.
The IURC also issued a final order dealing with the impacts of the Tax Cuts and Jobs Act (TCJA) of 2017. The order provides a one-time refund reflecting the amount collected in revenues after the TCJA was implemented, but before rates were changed, to be distributed to customers over a 12-month period starting in May 2020. The refund for the typical residential customer will total approximately $19.26, or approximately $1.60 per month for one year. Indiana American Water already reduced its rates by 4.4 percent on Aug. 1 as a result of the impact of the TCJA.
Indiana American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to more than 1.3 million people, according to the release. With a history dating back to 1886, For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.
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