Indiana American Water rates to rise nearly 8 percent in deal

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GREENWOOD, Ind. (AP) — Customers of Indiana American Water would see their bills increase by nearly 8 percent by mid-2020 under a proposed settlement agreement the utility has reached with consumer advocates, industrial customers and other parties.

The agreement was filed Monday with the Indiana Utility Regulatory Commission, which may accept, deny, or change it. An IURC settlement hearing is scheduled for April 11. 

In the Indianapolis metropolitan area, Indiana American serves the communities of Franklin, Greenwood, Mooresville, New Whiteland, Noblesville, Shelbyville and Sheridan. Other nearby communities it serves include Crawfordsville, Kokomo, Muncie, Richmond, Russiaville, Seymour, Somerset, Summitville, Terre Haute, Waveland, West Lafayette and Winchester. 

The deal calls for a 7.9 percent increase in operating revenues based on the utility’s investment of more than $542 million in its water systems across the state. A 1.73 percent increase would occur this summer and a 6.07 percent increase in mid-2020. Residential customers using 4,000 gallons of water per month would see their bills increase by a total of $2.41.

The utility has 1.3 million customers across Indiana.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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