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Wausau water utility posts higher net income after $6.5M state forgiveness; PSC rate calculation shows no immediate rate increase
Summary
Wausau—s water utility reported an improved 2024 result after a full year of new rates and approximately $6.5 million in state principal forgiveness tied to the GAC treatment project, officials told the Water Works Commission on July 8.
Wausau—s water utility reported an improved financial position for 2024 driven by a full year of newly implemented water rates and about $6.5 million in principal forgiveness for the granular activated carbon (GAC) project, Finance Director Groot told the Water Works Commission on July 8.
The PSC filing shows operating revenue increased relative to the prior year, and Finance Director Groot said net income rose from just under $3 million to about $5.1 million. Groot attributed most of the jump in miscellaneous nonoperating revenue to roughly $6.5 million of principal forgiveness associated with the GAC project, which is still recorded as construction-in-progress because work remains to be completed.
The change matters because the PSC—s rate-of-return computation, which…
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