The Indiana Office of Utility Consumer Counselor‘s reached a settlement agreement with Indiana- American Water Company in the utility’s pending rate case.
That will mean a much smaller impact on local customers‘ bills.
If utility regulators approve it, the settlement allows a two and one-half percent hike in its annual operating revenues.
Anthony Swinger at the OUCC says Indiana-American Water originally asked for a nearly 10-percent hike.
He says right now the agreement doesn't specifically address how costs will be spread out among service territories or among residential, commercial or industrial customers.
"Once you have a rate order that establishes that new revenue requirement, then the utility has about a month to file a new plan showing how it would implement the terms and conditions of the order, including specific rate schedules," says Swinger. "If we see a concern with that, we certainly have the ability to object."
Swinger says the specifics of the plan will be filed before the end of the year.... when the Indiana Utility Regulatory Commission is expected to rule on the agreement.
