The York Water Company requests a rate increase to fund essential infrastructure improvements for water and wastewater services.
Quiver AI Summary
The York Water Company has submitted a request to the Pennsylvania Public Utility Commission for a general rate increase for its water and wastewater services, marking its first increase since 2022. President and CEO JT Hand emphasized the importance of this increase to fund necessary infrastructure improvements, including a $145 million investment in aging water mains, treatment facilities, and compliance with regulatory standards. If approved, the company seeks a $24.2 million annual revenue increase, resulting in an additional monthly cost of approximately $14.16 for water and $35.85 for wastewater for the average residential customer. The rate increase could take effect as early as August 1, 2025, although the PUC may extend it to March 2026. The public is invited to participate in the rate review process, and further information is available on the company's website. The York Water Company serves over 212,000 residents across various municipalities in Pennsylvania.
Potential Positives
- The York Water Company is proactively investing $145 million in crucial infrastructure upgrades, indicating a commitment to improving water and wastewater services.
- This is the first rate increase request since 2022, suggesting that the company has been managing costs effectively since the last adjustment.
- The proposed rate increase is aimed at ensuring compliance with current regulations and enhancing service reliability, which could strengthen customer trust and satisfaction.
- The transparent rate review process allows for public participation, demonstrating the company’s commitment to stakeholder engagement and community involvement.
Potential Negatives
- The request for a general increase in rates could lead to customer dissatisfaction, especially since the average residential customer would see a significant increase in monthly bills.
- The rate increase marks the first since 2022, potentially indicating financial pressures or challenges in managing operational costs since the last adjustment.
- There may be public scrutiny or backlash against the company as this increase is necessary despite previous infrastructure investments, suggesting possible ongoing issues within the water and wastewater service sector.
FAQ
What rate increase is The York Water Company requesting?
The York Water Company is requesting a $24.2 million increase in annual revenues for water and wastewater services.
When was the last rate increase before this request?
The last rate increase was three years ago, prior to the current request filed in May 2025.
How will this rate increase affect average customers?
What are the key reasons for the rate increase?
The rate increase aims to fund $145 million in capital investments for infrastructure improvements and regulatory compliance.
When will the proposed rate increase take effect?
If approved, the rate increase could take effect on August 1, 2025, but may be delayed until March 2026.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$YORW Insider Trading Activity
$YORW insiders have traded $YORW stock on the open market 15 times in the past 6 months. Of those trades, 15 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $YORW stock by insiders over the last 6 months:
- JOSEPH THOMAS HAND (CEO & President) has made 4 purchases buying 646 shares for an estimated $20,861 and 0 sales.
- ALEXANDRA C CHIARUTTINI (CAO & General Counsel) has made 2 purchases buying 80 shares for an estimated $2,600 and 0 sales.
- MATTHEW J SCARPATO (VP- Operations) has made 2 purchases buying 53 shares for an estimated $1,725 and 0 sales.
- STEVEN R RASMUSSEN purchased 28 shares for an estimated $999
- ASHLEY M GRIMM (VP- Human Resources) has made 2 purchases buying 24 shares for an estimated $780 and 0 sales.
- MARK S SNYDER (VP- Engineering) has made 2 purchases buying 20 shares for an estimated $649 and 0 sales.
- MATTHEW E POFF (Chief Financial Officer) has made 2 purchases buying 8 shares for an estimated $260 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$YORW Hedge Fund Activity
We have seen 77 institutional investors add shares of $YORW stock to their portfolio, and 79 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 157,198 shares (-8.8%) from their portfolio in Q1 2025, for an estimated $5,451,626
- KBC GROUP NV removed 111,661 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $3,653,547
- PENN CAPITAL MANAGEMENT COMPANY, LLC removed 103,748 shares (-71.5%) from their portfolio in Q1 2025, for an estimated $3,597,980
- MILLENNIUM MANAGEMENT LLC added 81,138 shares (+1062.7%) to their portfolio in Q1 2025, for an estimated $2,813,865
- LEGAL & GENERAL GROUP PLC added 78,344 shares (+51.7%) to their portfolio in Q1 2025, for an estimated $2,716,969
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 46,642 shares (+inf%) to their portfolio in Q1 2025, for an estimated $1,617,544
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 39,608 shares (+432.0%) to their portfolio in Q1 2025, for an estimated $1,373,605
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
YORK, Pa., May 30, 2025 (GLOBE NEWSWIRE) -- The York Water Company (NASDAQ:YORW) filed an application with the Pennsylvania Public Utility Commission (PUC) requesting a general increase in rates for water and wastewater services for its customers.
“While water and wastewater infrastructure throughout the Commonwealth of Pennsylvania is in need of improvement, York Water consistently makes timely and necessary replacement of pipes, pumps, and both water and wastewater treatment facilities each year,” said JT Hand, President and CEO of The York Water Company. “We do not take rate increases lightly. Our last increase was three years ago and following months of consideration we found that this increase is necessary in order to invest in every aspect of our system to ensure continual safe, reliable, water and wastewater services for our customers.”
This request, the first since 2022, includes $145 million in capital investments made by The York Water Company since the last rate increase through February 2027. These investments include replacing, reinforcing, and relining aging water mains, replacing meters, hydrants, and service lines to ensure customers have a safe, reliable supply of water that meets current and proposed regulations; expanding wastewater treatment plants to meet the needs of growing communities; improving company owned dams to comply with current regulatory standards required by the Department of Environmental Protection; and upgrading water and wastewater treatment equipment and facilities to maintain compliance with current regulations and provide resiliency in operations.
The Company is asking for a $24.2 million increase in annual revenues. If the request is granted in its entirety, the typical residential customer would pay an additional $14.16 per month (47 cents per day) for water and an additional $35.85 per month ($1.20 per day) for wastewater services. At the increased rates, the average cost of 1,000 gallons of water would remain slightly more than a penny per gallon.
If granted immediately, the rate increase would be effective August 1, 2025. The PUC may delay the effective date until March 2026. The rate review process is transparent and involves opportunities for public participation. York Water customers can contact our Customer Service team or visit www.yorkwater.com for more information.
The York Water Company provides water and wastewater services to over 212,000 people in 57 municipalities in Adams, Franklin, Lancaster, and York counties.
