The Metropolitan Water District of Southern California on Tuesday raised rates for 2015 and 2016 despite having projected cash reserves of $840 million – an amount that is $352 million above its board-adopted maximum reserve limit. MWD’s board also voted to spend the over-collected revenue on unbudgeted expenses.
Officials from the San Diego County Water Authority and several of its 24 member agencies attended Tuesday’s hearing in Los Angeles to defend the region’s ratepayers and urge no water rate increases be adopted. However, despite compelling information that rate increases are unneeded, the MWD board adopted 1.5 percent increases for each of the next two years.
To read more, click here.