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WaterOne Board Approves 0% Rate Increase
At its December Board meeting, the Board approved a 0% rate increase for 2018. The decision to keep rates at 2017 levels through 2018 was based on savings coming from WaterOne’s bond refinancing at very low interest rates, due to current market conditions and WaterOne’s excellent bond ratings.
Rate stability matters at WaterOne. Small, stable rate increases offer predictability for residents and businesses, and has an impact on everything from commercial development to the local cost of living. WaterOne is a non-profit public utility and is not tax supported – rates and fees are used entirely to cover the cost of daily operations and infrastructure. Because of this, WaterOne practices careful financial planning and reserve funding in order to avoid reactive rate hikes. It also means that WaterOne is able to share the benefits of cost savings with its ratepayers whenever possible.
Director of Finance Darin Kamradt commended WaterOne staff for responsible financial stewardship and continued diligence in identifying cost savings.
“As a not-for-profit utility, we’re keeping within the spirit of our relationship with our ratepayers to pass this savings on to them,” said Kamradt.
WaterOne is an independent, non-profit water utility, proudly serving 400,000+ customers in the Johnson County area.
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