PITTSBURGH WATER MAINTAINS A STRONG FINANCIAL OUTLOOK, AIDED IN PART BY STATE AND FEDERAL FUNDING, CREDIT RATING UPGRADE.
Our Core Value of Stewardship extends to our responsibility as stewards of your ratepayer dollars.
Our standing as a publicly owned and operated utility means that every dollar we receive from ratepayers is invested back into our water systems. At Pittsburgh Water, it’s about service, not profit – we don’t have shareholders and don’t generate a profit.
Funding from state and federal partners is critically important to keeping rates as low as possible and reducing the burden on ratepayers. Last year, we received more than $82 million in new low-interest loans and $36 million in grant funding, helping us stretch ratepayer dollars and keep rates as low as possible. In fact, since 2018, Pittsburgh Water has secured nearly $100 million in grants and more than $750 million in low-interest loans.
What’s more, last year Pittsburgh Water received a credit rating upgrade, signifying financial stability during a period of necessary capital investments. By managing our investments effectively, we will continue to improve our vital public infrastructure and keep rates as affordable as possible,
As we continue the necessary undertaking of modernizing Pittsburgh’s aging water infrastructure, capital spending in 2024 reached a record-setting amount of more than $182 million.
We’re making unprecedented levels of investment in critical water, sewer, and stormwater infrastructure. Our ambitious $1.74 billion Capital Improvement Plan (CIP) will, over the next five years, add needed redundancy, improve service reliability, and help us continue to protect water quality and public health. Projects benefitting from this investment include lead service line and water main replacements, Water Treatment Plant improvements and upgrades, and projects in our multi-generational Water Reliability Plan.
To review both our Annual Operating and Capital budgets and learn more about where Pittsburgh Water is prioritizing your ratepayer dollars, please visit our interactive budget microsite.