The Empire District Electric Company (NYSE:EDE) has been granted new rates by the Missouri Public Service Commission for its water customers in the communities of Aurora, Marionville, and Verona. The rates will increase annual revenues by approximately $450,000, or 25.5 percent, and will be effective for service rendered on and after November 23, 2012. For a residential customer using 5,000 gallons of water a month, the increase will be approximately $7.20.
In making the announcement, Kelly Walters vice president and COO-Electric, stated, "Since our last rate increase in 2006, we have experienced increased operating expenses and have invested approximately $2.3 million in improvements, upgrades, and additional extensions to meet the needs of our customers."
Based in Joplin, Missouri, The Empire District Electric Company (NYSE:EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company) and water service, with approximately 215,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the Company also provides fiber optic services. Empire provides water service to about 4,580 customers in Aurora, Marionville, and Verona, Missouri. For more information regarding Empire, visit www.empiredistrict.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements address future plans, objectives, expectations, and events or conditions concerning various matters. Actual results in each case could differ materially from those currently anticipated in such statements, by reason of the factors noted in our filings with the SEC, including the most recent Form 10-K.