This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aqua America Commends New Jersey Board Of Public Utilities For Approving The State’s First DSIC Filing

Aqua America, Inc. (NYSE: WTR) Chairman and CEO Nicholas DeBenedictis commended the New Jersey Board of Public Utilities today, after it unanimously approved the foundational Distribution System Improvement Charge (DSIC) filing of its New Jersey subsidiary. The approval, which took place yesterday, is the first of its kind for the New Jersey BPU. The BPU commissioners adopted the water infrastructure improvement recovery mechanism in November 2011.

The DSIC encourages utilities to accelerate their much-needed infrastructure improvement programs by allowing water utilities the timely recovery of capital costs, including return on equity and depreciation, for certain capital improvements (including aging pipe, service lines and hydrant rehabilitation) through a bill surcharge, subject to audit, without filing an expensive and lengthy formal rate request.

Aqua New Jersey’s request, filed in July 2012, listed projects and activities the company believes are eligible for recovery through the DSIC over the next two-to-three years. Aqua America Chairman and CEO Nicholas DeBenedictis said, “The BPU is to be commended for joining the list of other states that now employ a water infrastructure surcharge mechanism. One of the reasons we are able to complete the amount of capital improvement projects we do in other states is directly attributable to the DSIC. All one has to do is look at recent headlines about the state of our nation’s drinking water infrastructure to know how badly these improvements need to be made. DSIC programs are a win-win for the company and its customers because it encourages infrastructure investment while reducing the regulatory lag that can slow down important infrastructure projects.”

The Environmental Protection Agency estimates a 20-year capital investment of $334.8 billion is needed for public water system repairs including the replacement of the nation’s transmission pipes, storage and treatment equipment, and other projects required to protect public health. The DSIC will help private water utilities like Aqua New Jersey to address the distribution system improvements cited by EPA.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,853.83 -58.28 -0.34%
S&P 500 1,966.79 -3.16 -0.16%
NASDAQ 4,455.70 +13.0020 0.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs