The board of the Pittsburgh Water and Sewer Authority will keep Veolia Water, the private firm that has managed the authority for the last year, for another 18 months.
Under the new agreement unanimously approved today, Veolia's monthly fee will drop from $150,000 a month to $135,000 a month. It also will take a smaller cut of the cost-savings and new revenue it generates during the remainder of its contract.
The Chicago-based company took the helm of the beleaguered authority last July, installing one of its own as executive director. In that time, the company has brought back a major commercial customer, adding about a million dollars in new revenue and found another half-million dollars in cost-savings. Veolia also has revamped the authority's customer service operations.
The cost-savings and new revenue meant the authority held the line on water rates late last year. The average wait time for customers who call the authority had been cut in half since last year.
Moriah Balingit: firstname.lastname@example.org, 412-263-2533 or on Twitter @MoriahBee.