LITTLE ROCK, Ark. – Summit Utilities is looking to raise its rates by nearly 30% this fall.
Almost two weeks ago, the company filed a rate increase with the Arkansas Public Safety Commission. If it is approved, a typical customer will be paying about $18.50 more a month. That change would not go into effect until November.
“[The increase] is largely driven by inflation, economic conditions and capital investments that we’ve made into our system within the last year,” Stephanie Sharp with Summit Utilities said.
Summit Utilities files plan to raise rates in Arkansas
Sharp said the company has spent $155 million on investments in the last year to keep business running safely. She noted the rate increase would essentially act as a reimbursement for money already spent.
Summit said they have also added 300 employees. The company said the rate increase will help cover the cost of its increased customer service system.
“These folks that are literally right down the road, that live in your same neighborhood, and serve the same communities that you live in,” Sharp said.