Valor Water’s Water Rate Simulator has been pre- selected as a grant-qualified vendor for water utilities to model Budget-based Rates, run weather and economic scenarios, and forecast demand under new rate structures. Valor’s rate setting tools also includes Cost of Service assessment tools for a comprehensive and Prop 218 compliant rate setting solution.
Valor Water CEO, Dr. Christine E Boyle, has been building innovative rate structures for water utilities for the past 10 years. She notes, “selection by SAWPA is a validation for us that water rates can be delivered in a more cost-effective and computationally powerful way than the water sector has seen in the past.” Boyle goes on to state, “Valor’s tools perform powerful water demand diagnostics on utility’s entire customer base and produce a set of robust and Prop 218 compliant rates. We are excited that SAWPA recognizes the need for 21st century technology to solve the pressing revenue issues facing California water utilities.”
Environmental Financial Group, Inc. is teamed with Valor Water on the SAWPA work and will provide financial forecasting and cost of service analysis services. Scott Harder, its CEO and 35-year veteran water financial analyst observed: “Our cost of service and financial forecasting models will now be coupled with state-of-the-art data analytics and offered online, providing agencies unprecedented ability to confidently calculate and monitor budget rates defined to the class or parcel level. This technology improves defensibility and reduces revenue risk.”
Santa Ana Watershed Project Authority (SAWPA) received a Department of Water Resources grant under Prop 84 to deliver technical assistance to SAWPA agencies to fortify water and revenue programs in the face of prolonged drought.
SAWPA agencies can apply for grant funds and get started using Valor Water’s Water Rate Simulator by clicking on the SAWPA website, here.