Aqua Ohio Proposes Reducing Annual Rate Increase to 3.75%
STRUTHERS, Ohio – Aqua Ohio has proposed reducing the negotiated water rate increases for customers in Mahoning County to 3.75%, rather than the current 4.5% annual increase in each of the next three years.
In May, the water utility company worked with government officials from the service area to reduce rates 4.2%, said Aqua Ohio area manager Jennifer Johnson in a release.
“When we approached our Mahoning Valley communities in May with a 4.2% rate rollback, I told officials I would likely revisit them in the fall with a plan to reduce rates in the remaining years of our approved rate plan and increase our capital investment commitment,” she continued.
The reduction is thanks to changes in the tax code, Johnson noted.
At the end of the five-year rate period, currently in its second year, rates will be 9.1% lower than originally negotiated, a savings of about $112 for the average residential user during that period.
She also said the utility is committed to invest at least $36 million in capital improvements over the five-year rate plan, $8 million more than initially committed.
Rate are set through local legislation, requiring approval by municipalities to take effect. Struthers, Lowellville and Poland are expected to approve legislation by the end of the year, as are the townships of Beaver, Boardman, Canfield, Coitsville, Poland and Springfield through the Mahoning County Commissioners.
Copyright 2023 The Business Journal, Youngstown, Ohio.