STATE OF NEW JERSEY
Division of The Ratepayer Advocate
31 Clinton Street, 11th Fl.
P. O. Box 46005
Newark, New Jersey 07101
RICHARD
J. CODEY Acting Governor |
|
SEEMA
M. SINGH, Esq. |
Press Release
For
Immediate Release July 7, 2005 |
For
Further Information |
N.J. Ratepayer Advocate Calls Settlement for Crestwood Village Water Company “Fair”
Newark, N.J.—Ratepayer Advocate Seema
M. Singh today called a settlement agreement for the Crestwood Village Water
Company “fair.” The settlement lowers by 11.15 percent the revenue increase
request of the company.
The Board of Public Utilities (BPU) yesterday approved the settlement, which
had been negotiated by the BPU staff and the Ratepayer Advocate.
“The settlement protects the interests of the ratepayers in Crestwood Village
Water Company’s service territory and will allow the company to continue to
provide safe, adequate and proper water service to its customers,” said Singh.
In December 2004, Crestwood Village Water Company originally requested a revenue
increase of $332,367, which would have resulted in a 27.63 percent increase
over their current revenue. However, the company, which provides water service
to some 9,600 customers in Manchester, Ocean County, will receive the lower
revenue increase of $140,000 as stipulated in the settlement.
The Division of the Ratepayer Advocate is an independent
state agency that represents the interests of utility consumers and serves as
an active participant in every case whenever New Jersey utilities seek changes
in their rates or services. The Ratepayer Advocate also gives consumers a voice
in setting long-range energy, water, and telecommunications policy that will
affect the delivery of utility services well into the future.
Additional information on this and other matters can be
found at the Division of Ratepayer Advocate’s website at http://www.rpa.state.nj.us
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