The DEP held a public water board meeting on Friday April 29th and proposed a 4.9% water rate increase, citing lower consumption and water bills not being paid. Consumers will be shocked, as there has been minimal increases in recent years, and this would be the LARGEST increase that we have seen in some time. We predict that the DEP will reduce the increase from 4.9% to 4.7%.
The meeting also included measures to increase the late payment fee, and an increase in capital construction funding by 21%. There will be public hearings held in the coming months with rate updates and revisions for NYC.