California Public Utilities Commission Audit Concludes San Gabriel Valley Water Company Owes Ratepayers over $27 Million
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On September 13, 2005, the California Public Utilities Commission (PUC) issued an audit report concluding that the San Gabriel Valley Water Company (SGV) owes over $27 million to its water ratepayers in the City of Fontana and in the San Gabriel Valley of Los Angeles County. The PUC found that SGV distributed $40 million in dividends to shareholders instead of reinvesting funds in plant infrastructure in accordance with PUC regulations. The audit report comes after the PUC partly approved SGV’s November 2002 application for increased revenues, for which the PUC has now granted the city’s request for rehearing. The city is also challenging SGV’s latest application for further rate increases filed in August 2005.
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Topics) Water Supply) Rates and fees
California) Los Angeles County
Public Utilities Commission
San Gabriel Valley Water Company