IURC Approves Indiana American Water Rate Increase

Posted: Updated:
(Image courtesy of Indiana American Water.) (Image courtesy of Indiana American Water.)
GREENWOOD -

The Indiana Utility Regulatory Commission has approved a settlement agreement regarding a proposed rate increase by Greenwood-based Indiana American Water. The deal will result in the average residential customer seeing a total increase of about $2.50 on their monthly water bill. 

The utility reached the settlement with the Indiana Office of Utility Consumer Counselor in May. The OUCC says the agreement will generate $17.5 million in additional annual revenue for Indiana American Water. The original proposal filed in September had requested a $38.8 million increase.

"The Commission’s order brings a fair resolution to this case," Indiana Utility Consumer Counselor Bill Fine said in a news release. "The increase under the approved agreement is significantly lower than what IAWC had requested. More importantly, the agreement provides an appropriate balance between aging infrastructure improvements and fair rates to cover those costs, to help ensure the reliable delivery of clean water to the utility’s customers throughout the state."

The rate increase will occur in two phases. The utility says, for a residential customer using 4,000 gallons of water per month, the first phase would create an increase of 34 cents per month, which takes place Monday. The second phase will see an increase of $2.22 per month beginning in May 2020.

The agreement also includes the implementation of a low-income pilot program focusing on customers in Gary, Muncie and Terre Haute. It also resolves all issues related to the federal Tax Cuts and Jobs Act of 2017 and the proper sharing of federal tax relief with customers.

"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."

  • Perspectives

    • 3 Tips to Attract and Retain Employees in the Gig Economy

      The gig economy has been around ever since workers began looking for supplemental income, but, it has recently evolved with the introduction of technology. Companies emerging like Uber, Lyft and GrubHub, are changing the gig economy landscape of the workforce. The gig economy has attracted millennials and Gen Zers because of the flexibility and autonomy to work from anywhere, at any time.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • (Industrial hemp photo courtesy of Purdue University)

      Hemp Processor Announces Expansion

      Indianapolis-based BDX Indiana has announced plans to bring more than 100 new jobs to central Indiana, with about a third of those going to a planned hemp extraction facility in Westfield. BDX extracts CBD oil from Indiana-grown hemp and is a sister company of Biodynamic Ventures, the largest hemp grower in Indiana. The city says the phase one build-out of the overall $50 million project is expected to begin this month with production to start in December. 

    • (photo courtesy of Indianapolis International Airport)

      Indy Airport Showcases New Retail Offerings

      Indianapolis International Airport is celebrating the opening of the first wave of new retail offerings. The new stores are part of the airport's multi-year Concessions Refresh initiative, which aims to bring a greater mix of nationally-known brands, such as FAO Schwarz and Vineyard Vines, with more local offerings, including Natalie's Candy Jar and Fountain Square Market. In all, nine new retail stores opened Tuesday morning. In an interview with Inside INdiana Business...

    • Butler Blue III is retiring next spring as the school's mascot. (photo courtesy Butler University)

      Butler Mascot Set to Retire

      One of the best-known ambassadors for Butler University is stepping down, all four legs of him, at the end of the current academic year. The university says their furry mascot, Butler Blue III, is ready to retire after nearly eight years of greeting visitors, students and staff. 

    • (WISH-TV Photo)

      Waterside Fight Continues Between Ambrose, City

      Ambrose Property Group has taken another step in its fight with the city of Indianapolis over the former GM Stamping Plant site in the city's downtown. The developer has given a notice of the legal action it intends to pursue against the city for what it calls "the city's baseless eminent domain threat and defamation." The back-and-forth between the two parties stems from Ambrose's announcement in late September that it planned to sell the property, which was being...

    • DePauw University ranked No. 20 on list of Best "Colleges"

      Small Indiana Colleges Rank High Nationally

      Indiana has two institutions of higher learning, with intentionally small enrollments, that rank in the top 30 in the nation for an overall experience.  The personal finance website, WalletHub, conducted a survey of what it calls the 2020 Best College Ranking.