New York American Water Delays Previously Approved Rate Increase

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

In response to COVID-19 and after consultation with the New York State Department of Public Service, the New York State Public Service Commission (PSC) today approved New York American Waters request to postpone the companys previously approved rate increase, originally scheduled to go into effect April 1. Per the Order, the rate increase will be postponed for five months until September 1, 2020, at which time the previously approved rate increase will go into effect.

In addition to the Rate Year 4 increase postponement, the System Improvement Charge, normally scheduled to go into effect August 1, 2020, will also be postponed until September 1, 2020. The rate increase postponement is applicable to all customers, including residential and commercial customers and fire service and irrigation accounts. More information on the rate postponement is available on the companys website under Customer Service and Billing, Your Water Rates. To read the PSC Order, visit www.dps.ny.gov.

New York American Water is taking several actions in response to the COVID-19 pandemic in addition to the postponement. The company has suspended the practice of shutting off water service due to non-payment and service will be restored to all customers whose service was previously discontinued for nonpayment. These decisions were made to continue to provide clean, safe, reliable water service for all customers during this public health emergency. For more information, visit www.newyorkamwater.com.

New York American Water, a subsidiary of American Water (NYSE:AWK), is the largest investor-owned water company in New York, providing high-quality and reliable water and/or wastewater services to approximately 350,000 people.

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing.

MEDIA:

Thomas Meara, [email protected], 718-309-3506

Lee Mueller, [email protected], 516-287-8858