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What is our track record on sewer rate increases over the past years?

April 26, 2017increases past years rate record sewer track

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What is our track record on sewer rate increases over the past years?

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In 1996, rates were increased 11% to qualify for the IEPA loan for the Treatment Plant improvements. In 2003, rates were increased 21% to maintain solvency. In 2006, rates were increased 15% to maintain solvency (consultant recommended a 50% increase at that time). In 2006, the CPI adjustment was 4.7%, in 2007 the CPI adjustment was 5.2%, and in 2008, the CPI adjustment was 5.1%. Sewer averaging was put in place in 2006, which cut into wastewater revenues.