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York Water Co. revenue grows 9% in Q1
Paula Wolf//May 4, 2022
York Water Co. reported first-quarter operating revenue of $14.24 million, an increase of nearly 9% from a year ago.
Meanwhile, net income was $3.859 million, up $154,000 compared with the first three months of 2021.
A release explained that revenue rose primarily due to growth in York Water Co.’s customer base from the West Manheim Township wastewater acquisition and utilization of the Distribution System Improvement Charge. The DSIC is a Pennsylvania Public Utility Commission-allowed charge that water utilities collect from customers for the replacement of aging infrastructure.
The expansion in revenue was offset somewhat by higher operation and maintenance expenses and depreciation.
From January through March, York Water Co. invested $7.5 million in capital projects, such as routine items and wastewater treatment plant construction as well as replacements and improvements to infrastructure. The company estimates it will invest $35.3 million more in 2022, excluding acquisitions, for armoring and replacing the spillway of Lake Williams dam, additional main extensions, and routine improvements to its pipes, service lines and other facilities to ensure a safe, adequate, and reliable supply of drinking water.
