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Aqua America wins 5.2% rate increase in North Carolina

A subsidiary of Aqua America Inc. won the North Carolina Utilities Commission approval for a revenue increase of $2.9 million, or 5.2%, to recover costs associated with upgrading its infrastructure to improve service reliability.

The increase also covers higher operating costs to provide water and wastewater service to customers and comply with environmental and health regulations since the utility's last rate request nearly five years ago, according to a news release. The utility spent approximately $94 million to upgrade and replace its aging water infrastructure since its last rate increase request in 2014.

The commission also approved a $14.4 million refund to customers over a three-year period tied to the 2017 federal tax reform.