Real Estate Journal — Pennsylvania — July 13 - 26, 2018 — 11C
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M id A tlantic
P ennsylvania
ERSHEY , PA — P e n n s y l v a n i a American Water PUC projects the savings for the utilities’ customers at more than $320 million per year PA American Water reduces customer bills, passing on savings from Federal Tax Reform H Water on Twitter, Facebook and LinkedIn.
per month, the savings will be $6.58, or $78.96 per year. (Reductions for Scranton and Dunmore wastewater custom- ers and New Cumberland wastewater customers are slightly less due to the lower rates established in the com- pany’s most recent rate filing last year.) McIntyre said customers will continue to receive the federal tax adjustment un- til Pennsylvania American Water files for and receives approval from the PUC on its next base rate case.
You can also access video of McIntyre’s comments about the impact of the federal tax adjustment at http://bit. ly/2tPjDjb. Pennsylvania American Water, a subsidiary of Ameri- can Water, is the largest investor-owned water utility in the state, providing high- quality and reliable water and/or wastewater services to approximately 2.4 million people. With a history dat- ing 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 6,900 dedicated profes- sionals who provide regulated and market-based drinking water, wastewater and other related services to an esti- mated 15 million people in 46 states and Ontario, Canada. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit their website and follow American
About Jeffrey L. McIntyre In role of president, McIntyre drives operational and financial results, leads customer, regula- tory and local government rela- tionships, and is the principal external contact for American Water in Pennsylvania. In addition, McIntyre was promoted to senior vice presi- dent of American Water’s Mid- Atlantic Division in March 2017, to lead the company’s subsidiaries in West Virginia and Pennsylvania.
announced that most of its water and wastewater c u s t ome r s w i l l s t a r t seeing lower monthly bills as a result of the federal
Jeffrey McIntyre
Tax Cuts and Jobs Act of 2017. Starting July 1, 2018, the decrease will appear on customers’ bills as the “Fed Tax Adjust Surcharge” to reflect the company’s reduced tax expense. For custom- ers who receive both water and wastewater service from Pennsylvania American Wa- ter, their monthly bills will reflect a credit for each. On May 17, 2018, the Penn- sylvania Public Utility Com- mission (PUC) issued an order directing 17 electric, natural gas, and water and wastewater utilities, includ- ing Pennsylvania American Water, to implement a “nega- tive surcharge” or monthly credit on customer bills. The PUC’s order cited decreased federal corporate tax rates and other tax changes under the Tax Cuts and Jobs Act of 2017, which impacted the tax liability of many utilities. The PUC projected the savings for the utilities’ customers at more than $320 million per year. “The reduced tax expense amounts to approximately $47 million annually for our company,” said president Jef- frey L. McIntyre of Pennsyl- vania AmericanWater, “so we are following the PUC’s direc- tive and passing the savings to our customers.” • Water: Nearly 6.8 percent decrease for most custom- ers. For example, a water customer who typically uses 3,000 gallons per month will see $3.61 savings, or $43.32 per year. For water custom- ers who typically use 5,000 gallons per month, the sav- ings will be $5.27, or $63.24 per year. • Wastewater: Nearly 7.7 percent decrease for most customers. For example, a wastewater customer who typically uses 3,000 gallons per month will see $4.25 savings, or $51 per year. For wastewater customers who typically use 5,000 gallons
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