The Aqueduct and Sewer Authority (AAA) will launch today, for the fourth time since January 2018, a rate increase that will make the service more expensive by 2.5% for its residential customers .
As on previous occasions, the increase for commercial, industrial and government subscribers will be 2.8%, 3.5% and 4.5%, respectively.
These increases were negotiated and approved in 2017, and were They will repeat at least until fiscal year 2022, according to AAA's certified fiscal plan. The most recent version of said plan was endorsed the day before yesterday by the Fiscal Oversight Board (JSF).
The fiscal plan shows that, for residential customers with low or average consumption, the increase in 2.5% will represent an additional $ 0.60 to $ 1.15 on your water bill. 46% of residential subscribers consume 10 cubic meters or less of water per month, which is considered low. Average consumption is estimated at 14 cubic meters.
In 2017, the JSF required the AAA to "moderate, but consistent" rate increases to ensure that its expenses are fully covered by service revenues. That same year, the Governing Board of the public corporation approved a resolution giving rise to the increases.
As they are increases that do not exceed 4.5%, the AAA can put them into effect automatically, without holding public hearings.
According to the fiscal plan, the increase that takes effect today must bring in revenues of $ 109.6 million.
“Currently, the rate adjustment measures have generated an estimated $ 150 million in additional revenues between fiscal years 2018 and 2020 "It is indicated in the certified document.
Although the increases are approved until fiscal year 2022, the plan assumes that the AAA will continue to implement increases of 2.5% until 2025. The estimated revenue from rate increases, between in fiscal years 2020 and 2025, it amounts to $ 908 million.
To mitigate the impact on the pocket, the AAA offers a discount of $ 1.00 to customers who use electronic invoicing. AAA has 1.3 million clients.