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.
We're making unprecedented, and much-needed, levels of investment in our water systems. In making these investments, alternative funding, including from state and federal sources, is critically important, helping us keep rates as low as possible and reducing the burden on you. Last year, we received more than $82 million in low-interest loans and $36 million in grant funding. Since 2018, Pittsburgh Water has secured nearly $100 million in grants and more than $750 million in low-interest loans.
Last year we received a credit rating upgrade, signifying financial stability during a period of necessary capital investments. By managing our investments effectively, we'll continue to improve vital public infrastructure and keep rates as affordable as possible.
These investments have culminated in landmark successes, many of which you can see in our 2024 Year in Review report.