New Jersey American Water customers could see an increase of $10 per month for services starting in June, when the utility raises rates while awaiting state approval for the rate request filed in September of last year.
Rates for the same services had decreased in April.
The company in a statement called the higher rates "provisional" and attributed the increases to $868 million worth of infrastructure upgrades throughout the state.
Average increases for residential customers will run around 12.3 percent per month, not including surcharges, New Jersey American Water said in a statement available here.
According to the statement, residential customers using 6,000 gallons of potable water per month will pay around $5.90 per month more. Their wastewater bill will go up around $4.12 per month.
The higher rates are expected to generate around $75 million in additional annual revenue, the company said.
New Jersey American Water, based in Voorhees, said it submitted a request for the rate hikes to the state's Board of Public Utilities (BPU) on Sept. 15, 2017.
The higher rates "are temporary and will remain in effect until the BPU renders its final decision on the company's rate case, which is expected later in the year," the company said in its statement.
If the BPU approves rates that are lower than what the customers are charged starting in June, the company said it would refund, with interest, amounts billed in excess of the approved rates.
The 12.3-percent rate hike follows a 5.9-percent decrease in April that came about "as a result of the Tax Cuts and Jobs Acts," New Jersey American Water said.
According to the company in its statement, the water bill for residential customers using an average of 6,000 gallons of potable water per month had decreased $3.46 per month, while the wastewater bill had dropped between $1.49 and $5.81 per month.
Rates for the same services had decreased in April.
The company in a statement called the higher rates "provisional" and attributed the increases to $868 million worth of infrastructure upgrades throughout the state.
Average increases for residential customers will run around 12.3 percent per month, not including surcharges, New Jersey American Water said in a statement available here.
According to the statement, residential customers using 6,000 gallons of potable water per month will pay around $5.90 per month more. Their wastewater bill will go up around $4.12 per month.
The higher rates are expected to generate around $75 million in additional annual revenue, the company said.
New Jersey American Water, based in Voorhees, said it submitted a request for the rate hikes to the state's Board of Public Utilities (BPU) on Sept. 15, 2017.
The higher rates "are temporary and will remain in effect until the BPU renders its final decision on the company's rate case, which is expected later in the year," the company said in its statement.
If the BPU approves rates that are lower than what the customers are charged starting in June, the company said it would refund, with interest, amounts billed in excess of the approved rates.
The 12.3-percent rate hike follows a 5.9-percent decrease in April that came about "as a result of the Tax Cuts and Jobs Acts," New Jersey American Water said.
According to the company in its statement, the water bill for residential customers using an average of 6,000 gallons of potable water per month had decreased $3.46 per month, while the wastewater bill had dropped between $1.49 and $5.81 per month.
Comments
Post a Comment