York Water Asks Public Utility Commission for 17% Rate Increase

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.

Before it's here, it's on the Bloomberg Terminal.