The York Water Company Announces Settlement Of Rate Case
YORK, Pa., Sept. 29, 2010 (GLOBE NEWSWIRE) -- Jeffrey R. Hines, President and CEO of The York Water Company (Nasdaq:YORW) announced today that the Company has filed a settlement petition of its pending rate case with the Pennsylvania Public Utility Commission. The settlement, which is joined in by all active parties, provides for an increase in annual base rate revenues of $3,400,000.
Hines stated, "We believe that during these difficult times this is a reasonable settlement that allows us to recover the $30 million investment in system improvements and infrastructure replacements, and allows us to continue to meet the current and future needs of our customers."
It is estimated that the settlement will increase the average residential customer bill from $35.70 per month to $38.54 per month, the average commercial customer bill from $151.49 per month to $161.64 per month and the average industrial customer bill from $769.98 per month to $822.66 per month. Hines commented that "even with the increase, the cost for a gallon of water for our average customer is still less than one penny per gallon."The settlement must be approved by the presiding Administrative Law Judge David A. Salapa and the Pennsylvania Public Utility Commission before increased rates become effective. The increases in rates under the settlement will likely become effective on or before November 4, 2010. The York Water Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5589
CONTACT: The York Water Company Jeffrey R. Hines, President and CEO Kathleen M. Miller, Chief Financial Officer 717-845-3601
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV