ACTION REQUESTED:
Title
PRESENTATION by ILLINOIS AMERICAN WATER COMPANY Regarding its Recent RATE INCREASE REQUEST with a Request to Receive and File.
Body
BACKGROUND: In January 2016, Illinois American Water Company (IAWC) filed an application with the Illinois Commerce Commission (ICC) to adjust rates effective January 2017 for water and sewer service in all of the company’s operating districts, including Peoria. The City Council requested that representatives of IAWC present to the Council regarding the details and need for the rate increase.
According to IAWC’s press release: “Illinois American Water’s last general rate case was approved by the ICC in September 2012. The company’s investments in water and sewer system improvements are the primary driver behind this rate request. From October 1, 2013 to December 31, 2017, Illinois American Water will have invested approximately $342 million in water and sewer infrastructure statewide. These improvements to local water and sewer plants, pumps and pipes help to enhance service quality, reliability, environmental performance, public health and fire protection for customers. Rates will not change until January 2017, after the ICC completes a comprehensive review of the request. The 11-month process includes opportunities for public comment.”
FINANCIAL IMPACT: IAWC is seeking to increase rates charged to customers in the City of Peoria, including the City itself.
NEIGHBORHOOD CONCERNS: The rate case before the ICC includes opportunities for public comment.
IMPACT IF APPROVED: Not applicable.
IMPACT IF DENIED: Not applicable.
ALTERNATIVES: Not applicable.
EEO CERTIFICATION NUMBER: Not applicable.
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Grow Peoria: Businesses, Jobs, and Population
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Keep taxes and fees competitive.
DEPARTMENT: City Manager's Office