New Jersey American Water

This past January New Jersey American Water asked the BPU, Board of Public Utilities, For for water rate increase of 23%... which would cost each homeowner about 9.50 a month increase in what they pay now.

There were supposed to be hearings and we have not heard of any yet.. see below:

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New Jersey American Water seeks 23 percent rate increase

by The Associated Press

Tuesday January 15, 2008, 6:01 AM

New Jersey American Water Company, the state's largest water utility, wants to raise rates by 23 percent to upgrade its lines and treatment plants and help it meet increased operating expenses.

That would mean an increase of about $9.50 a month for the average residential customer. New Jersey American has more than 2.6 million customers statewide.

The company announced the filing of the request with the state Board of Public Utilities Monday. The agency will hold hearings on it during the next year or so.

Its last rate increase went into effect in March of 2007. It was 12.5 percent and raised residential rates an average of $5.30 a month.

RWE, the company's German-based parent, has said it is preparing to divest its American Water subsidiary, the largest water company in the U.S. Critics have questioned whether the rate increase request was aimed at improving the company's bottom line prior to divestiture.

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OK so we waited for the hearings....... and waited...... and waited.... Not a problem, we can wait.

But hold on a minute, this past week on November 5Th 2008, this company reported a 6.2% increase in revenues. Now this sounds like the company is making more then enough money to supplement any rate increase that they would need to make... doesn't it?

See below:

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American Water Reports Third Quarter 2008 Results

Last update: 5:05 p.m. EST Nov. 5, 2008

VOORHEES, N.J., Nov 05, 2008 (BUSINESS WIRE) -- American Water Works Company, Inc.:

-- Operating revenues increase 6.2 percent to $672.2 million

-- Net income of $88.2 million or $0.55 per share for third quarter 2008

-- Excluding goodwill impairment charge (a non-GAAP financial measure), approximately 11 percent growth over third quarter 2007 net income of $79.5 million

-- Annualized general rate increases of approximately $27.0 million

American Water Works Company, Inc. (AWK:

19.79, +0.36, +1.9%) , the largest investor-owned U.S. water and wastewater utility company, today reported results for the third quarter ended September 30, 2008.

For the quarter, the company reported operating revenues of $672.2 million, a 6.2 percent increase or $39.1 million over the same period in 2007. Net income in the third quarter was $88.2 million, or $0.55 per basic and diluted common share, compared with a loss of $160.1 million or $1.00 per basic and diluted common share, in the third quarter of 2007. Excluding the goodwill impairment charge, the third quarter 2007 net income would have been $79.5 million, showing approximately 11 percent growth quarter over quarter. The increase in net income was due primarily to higher revenues in its Regulated Business.

"We continue to make progress in our regulatory filings," said Don Correll, president and CEO of American Water. "The increase in revenues, despite the high rainfall our Midwest operations have experienced, reflects our commitment to prudently invest in infrastructure and our ability to achieve an appropriate rate of return on those investments."

For the third quarter, the company received authorizations for additional annualized revenues from general rate case activity of approximately $27.0 million, which brings the total for the first nine months of 2008 to $73.9 million. As of September 30, 2008, the company has general rate cases awaiting final order in nine additional states that would provide $267.6 million of additional revenues, if approved as filed. The extent to which these rate increase requests will be granted by the applicable regulatory agencies will vary.

The increase in operating revenues from the company's Regulated Business of $31.6 million, or 5.5 percent increase over the same period in 2007 was achieved even with the Midwest experiencing some of the wettest weather on record. For the company as a whole, primarily due to weather, total volume of water sold decreased 4.8 percent for the quarter ended September 30, 2008, to 122.3 billion gallons, from 128.5 billion gallons for the same period in 2007, resulting in an estimated reduction of $11.4 million in revenues, approximately $5.8 million in net income, or $.04 per basic and diluted common share.

The company's Non-regulated Businesses' revenues increased by $7.5 million or 11.3 percent for the third quarter, compared to the same period in 2007. The increase was primarily attributable to higher revenues in the Homeowner Services Group and the Contract Operations Group.

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What the hell is "NON REGULATED BUSINESSES"?????

hey it makes no difference, all I want to know is why are we being asked to pay more, when the water supplier is making more then what is needed to supply us with drinking water...????

If your wondering too, ask this guy:

Don Correll, president and CEO of American Water.

look his email up.