This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

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

Stocks in this article: WTR

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

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