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Rate Matters | 9 Months Ended
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Sep. 30, 2022
Rate Matters [Abstract] |
Rate Matters | 10. Rate Matters From time to time, the Company files applications for rate increases with the PPUC and is granted rate relief as a result of such requests. The most recent rate request was filed by the Company on May 27, 2022 and seeks an annual increase in water rates of $18,854, which would represent a 33.8% increase, and an annual increase in wastewater rates of $1,457, which would represent a 35% increase. The request is currently under review by the PPUC and other interested parties. Any rate increase approved by the PPUC will be effective no later than March 1, 2023. There can be no assurance that the PPUC will grant the Company's rate increase in the amount requested, if at all. The PPUC permits water utilities to collect a distribution system improvement charge, or DSIC. The DSIC allows the Company to add a charge to customers' bills for qualified replacement costs of certain infrastructure without submitting a rate filing. This surcharge mechanism typically adjusts periodically based on additional qualified capital expenditures completed or anticipated in a future period. The DSIC is capped at 5% of base rates and is reset to zero when new base rates that reflect the costs of those additions become effective or when a utility's earnings exceed a regulatory benchmark. The Company's earnings are currently below the regulatory benchmark allowing the Company to collect DSIC. The DSIC provided revenues of $661 and $255 for the three months ended September 30, 2022 and 2021, respectively, and $1,623 and $280 for the nine months ended September 30, 2022 and 2021, respectively.

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