Settlement would halve water rate increase

Indiana American Water Co.’s proposed 18-percent rate hike would be cut nearly in half under a settlement agreement with the Indiana Office of Utility Consumer Counselor filed yesterday.

The proposal would allow the Greenwood-based firm a 9.9-percent increase in rates and charges.

Indiana American Water also agreed to develop a long-range water conservation plan, to eliminate a proposed energy-rate adjustment mechanism, and to include certain revenue sources to partially offset the need to boost rates, according to the agency.

The office initially recommended a 2.94-percent rate hike.

The settlement would have to be approved by the Indiana Utility Regulatory Commission. Public hearings are planned for Sept. 4 in Indianapolis.

Indiana American Water serves Indianapolis-area cities including Franklin, Greenwood, Noblesville and Shelbyville, as well as other Indiana communities.

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our updated comment policy that will govern how comments are moderated.

{{ articles_remaining }}
Free {{ article_text }} Remaining
{{ articles_remaining }}
Free {{ article_text }} Remaining Article limit resets on
{{ count_down }}