Mountain Water Company Rates Will Decrease in June, Says PSC
The water that Mountain Water Company delivers is about to get cheaper after a Montana Public Service Commission decision today.
“The commission concluded its investigation today [May 31], voting 4 – 1 to implement a 1.1 million dollar rate reduction for the customers of Mountain Water," said Montana PSC spokesman Eric Sell. "That’s an annual rate reduction and it equals to about 5.9 percent reduction in rates.”
Rate reduction hearings began back in January shortly after Mountain Water ownership changed hands to Liberty Utilities.
“Over the past four months we found that there was a savings in Liberty’s acquisition of the water system,” Sell said. “They had a low interest rate loan that they used to purchase the system and that resulted in a cost/capital savings, that the commission felt sold be passed on to Mountain Water’s customers, rather than be retained by the company as profit.”
According to Sell, Mountain Water Company rate payers will start to see those savings almost immediately and should show up on water bills at the end of June.