New York American Water Delays Previously Approved Rate Increase
American Water Works Company, Inc. (AWK)
Last american water works company, inc. earnings: 2/18 04:37 pm
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US:NYSE Investor Relations:
ir.amwater.com
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Source: Business Wire
Rate Year Four Increase Delayed until September 1 MERRICK, N.Y.--(BUSINESS WIRE)--In response to COVID-19 and after consultation with the New York State Department of Public Service, the New York State Public Service Commission (PSC) today approved New York American Water’s request to postpone the company’s previously approved rate increase, originally scheduled to go into effect April 1. Per the Order, the rate increase will be postponed for five months until September 1, 2020, at which time the previously approved rate increase will go into effect.In addition to the Rate Year 4 increase postponement, the System Improvement Charge, normally scheduled to go into effect August 1, 2020, will also be postponed until September 1, 2020. The rate increase postponement is applicable to all customers, including residential and commercial customers and fire service and irrigation accounts. More information on the rate postponement is available on the company’s website under Customer Service
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