FOREIGN-OWNED WV WATER COMPANY SEEKS COURT RULING ON WATER RATES

(05/25/2004)
The state's largest water company, now owned by a multi-national European corporation, is going before the state Supreme Court to get a rate decision overturned.

West Virginia-American Water Company says that the PSC set the company's rate of return on investments much too low, is in violation of the U.S. Constitution.

The company could take the issue before a world trade court if the issue is in violation of trade globalization agreements.

The company wanted a 10.25 percent rate of return, but received a 7 percent increase.

The PSC did give the company an increase in bad checks fees, late payment fees and additional charges for reconnection.

Much of the water system now foreign-owned was initially paid by taxpayer money.