El Paso Will Tie Water Increases To Consumer Price Index
El Paso – El Paso is expected to save more than $17 million in drinking water-related costs over the next decade.
The El Paso County Water Improvement District has agreed to freeze the price of some water it provides for two years.
The El Paso Times reported Monday that annual increases will be tied to the consumer price index with a cap of 4 percent. The previous deal called for 8 percent annual increases.
Public Service Board Vice President Nick Costanzo says the agreement "takes some of the pressure off for future rate increases."
The new agreement means El Paso will pay an estimated $65.8 million to the district during the next decade.
El Paso relies on the Rio Grande and aquifers for water.
Information from: El Paso Times, http://www.elpasotimes.com
Copyright 2010 The Associated Press.