Iowa American Water Files Rate Request Driven by Over $157 Million in Investment
01 Mai 2024 - 10:52PM
Business Wire
Request reinforces company’s commitment to
providing clean, safe, reliable and affordable water and wastewater
service
Iowa American Water filed a rate request today with the Iowa
Utilities Board (IUB) reflecting more than $157 million in water
and wastewater system improvements from October 2021 through March
2026 to continue providing clean, safe, reliable and affordable
service. The request reinforces the company’s commitment to
investing in its water and wastewater systems to replace aging
infrastructure, meet water quality and environmental regulations,
provide resiliency of operations, increase fire protection and meet
customers’ other water and wastewater service needs.
“We carefully plan and invest in the infrastructure of our water
and wastewater systems that provide service to approximately
225,000 people in nine eastern Iowa communities,” said Randy Moore,
president of Iowa American Water. “By making prudent, ongoing
investments, Iowa American Water is committed to protecting public
health and safety in the communities we serve. At the same time, we
remain committed to addressing the needs of our most vulnerable
customers.”
Iowa American Water’s investment includes replacing aging water
mains and critical infrastructure at its water treatment plants and
facilities to comply with regulations, expanding water storage for
additional resiliency, replacing lead and galvanized service lines,
and upgrading wastewater systems to meet environmental regulations
throughout the company’s service areas.
The company’s last general rate case was filed with the IUB in
August 2020, and a final order was issued by the IUB on June 28,
2021. Those rates were effective October 11, 2021. Since then, the
company has made and will make over $157 million in capital
investments.
In addition, the company is taking steps to address the issue of
affordability and is proposing a Customer Affordability Program,
which if approved by the IUB, would provide a 20 to 80 percent
monthly bill reduction for income-eligible customers. Currently,
Iowa American Water offers customer assistance through its Project
H2O – Help to Others program, payment plans and budget billing. To
request assistance through Project H2O, customers can call
Community Action of Eastern Iowa at (563) 243-5220 in Clinton or
(563) 324-3236 in the Iowa Quad Cities. Information about this as
well as payment plans and budget billing is available at the
company’s website.
Iowa American Water’s rates are based on the cost of providing
water and wastewater service as reviewed and approved by the IUB.
If the company’s proposed rates are approved as requested, the
water bill for the average residential customer using 4,000 gallons
per month would increase by approximately $22.00 per month, while
the average residential wastewater bill in Blue Grass would
increase by approximately $25.00 per month, and in Donahue, the
monthly wastewater bill would increase by approximately $28.00 per
month.
The IUB will conduct an extensive review of Iowa American
Water’s rate application before making its final decision, likely
in Spring 2025. Since the process can take up to ten months for a
decision to be rendered in the case. Iowa American Water will put a
portion of the requested increase into effect on May 11, 2024, as
an interim rate increase while its full request is considered by
the IUB. These interim rates may be subject to refund with interest
based on the IUB’s decision.
Public hearings and opportunities for public comment are also
part of the process and are scheduled in the company’s service
areas under the direction of the IUB. For more information on the
company’s rate proposal and to find out what actions customers may
take, visit iowaamwater.com and select “Your Water and Wastewater
Rates” under the Customer Service & Billing menu.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing® by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people with regulated operations
in 14 states and on 18 military installations. American Water’s
6,500 talented professionals leverage their significant expertise
and the company’s national size and scale to achieve excellent
outcomes for the benefit of customers, employees, investors and
other stakeholders. For more information, visit amwater.com and
join American Water on LinkedIn, Facebook, X and Instagram.
About Iowa American Water
Iowa American Water, a subsidiary of American Water, is the
largest investor-owned water utility in the state, providing
high-quality and reliable water services to approximately 225,000
people. For more information, visit iowaamwater.com and follow Iowa
American Water on X and Facebook.
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version on businesswire.com: https://www.businesswire.com/news/home/20240429533429/en/
Media: Lisa Reisen, Senior Manager - External
Communications 563-343-6127 lisa.reisen@amwater.com
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