Guest Post By Nicholas Smith of Raftelis
A new fiscal year typically means new water and wastewater rates for utilities in Florida. Florida utilities have long relied upon small and predictable annual rate increases to ensure their rates are sufficient to cover the cost to serve their customers. In setting rates, Florida utilities have always depended on careful financial analysis. Although COVID-19 has complicated this norm — Florida utilities can still proceed with rate changes, but it is best to proceed with some enhanced strategy. With universally high unemployment rates and utility governing bodies more concerned about affordability than ever, research by Raftelis shows utilities are moving ahead with rate increases, but they are looking for more data than before to support their decisions.
Ever need to know how many single-family wood-framed houses were sold in the Midwest last year? Or the latitude and longitude of every farmers market in Wisconsin that sells herbs, flowers, and soap? What about the number of planes that sat on the tarmac more than three hours this past June? Or the annual sales volume of book stores in the United States for the past 20 years?
These might sound like crazy questions, but all of the above information is available through the federal government’s data portal www.data.gov. Data.gov houses more than 130,000 data sets that are freely available for download (and, no, that’s not a typo—more than one hundred thirty thousand data sets). These data can be invaluable resources for making smart managerial and financial decisions for our water and wastewater systems. Continue reading