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Monday, May 26, 2008

Utilities raise rates as conservation cuts profits

Utility rates are spiking as water companies work to make up lost revenue from this year's drought. The revenue drop is due largely to people using less water in an effort to conserve. In Gainesville north of Atlanta, the utility system's debt is set to rise 12.5 % and revenue is down 7.2 %. Atlanta is aiming to raise rates 27.5%.

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