With over 250 water and wastewater providers in Virginia dedicated to serving diverse communities, navigating the benchmarking process is critical but complex. Leveraging a deep understanding of the industry and the challenges public utilities face, TRC Companies continues to spearhead the production the Virginia Water & Wastewater Rate Report to shed light on crucial industry trends and provide utilities with indispensable insights for effective decision-making.
In 2023, the 35th Annual Report found significant impacts for utilities related to rate changes. The average water rate across the Commonwealth increased by 7.2 percent in 2023 and the average sewer rate increased by 6.5 percent. Both increases were significantly higher than the previous year. Since 2012, the average water rate has increased by 3.4 percent per year and the average wastewater rate has risen by 3.6 percent per year. These increases occurred across a control group of representative utilities that allows the report to extrapolate trends across the state.
Amidst these insights, the 2023 Virginia Water & Wastewater Rate Report also provides an in-depth analysis of connection fees and capital recovery charges, giving utilities a comprehensive understanding of the broader financial landscape in which they operate.
For those seeking to delve into the comprehensive details of the 2023 Virginia Water and Wastewater Rate Report or to access previous editions, the complete reports are readily available for download online. For any inquiries or further information, please reach out to us at water@trccompanies.com.