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York Water Asks Public Utility Commission for 17% Rate Increase

May 29 (Bloomberg) -- York Water Co., the oldest investor-owned water utility in the U.S., filed for an almost 17 percent rate increase with the Pennysylvania Public Utility Commission to raise about $7.1 million in annual revenue.

Chief Executive Officer Jeffrey Hines said today in a statement the company filed for the raise after making $49 million in infrastructure improvements since its last rate increase in 2010, including wastewater upgrades. If approved, the increase and a 25 percent raise for wastewater customers will help York replace 30 miles of aging pipeline and cut leak losses for about 190,000 people it serves, York said.

Link to Company News:{YORW US <Equity> CN <GO>}

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

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