Bastrop, Texas – Aqua Water Supply Corporation has proposed a rate increase on which Aqua’s Board of Directors will vote at its upcoming meeting on December 5, 2022. The rate increase is necessary so that Aqua can maintain its Debt Service Coverage Ratio and other criteria required by its lenders. Higher material costs and maintenance costs are the primary reasons producing the need for a rate increase.
The base rate for residential meters is increasing from $25.15 to $28.70. First tier pricing (0 to 10,000 gallons) increases from $3.75 to $4.30 per 1,000 gallons. Second tier pricing (10,000 to 20,000 gallons) increases from $5.75 to $6.60 per 1,000 gallons. Third tier pricing (greater than 20,000 gallons) increases from $7.00 to $8.00 per 1,000 gallons. The average residential customer’s monthly bill will increase approximately $7.32. The average monthly residential bill will increase from $50.84 to $58.16. The rate for large volume service meters greater than one (1) inch in size changes from $5.00 to $5.70 per 1,000 gallons.
Aqua management will present a comprehensive review of the factors driving the rate increase at the company’s December 5, 2022, Board meeting starting at 9:00 AM at the Corporation Office located at 415 Old Austin Highway in Bastrop, Texas.