New water and wastewater rates take into effect this New Year.

Council officially passed the second and third reading of the revised water and wastewater rate by-law last week.

The new rates mean a 44% increase in quarterly service charges, from last year to this year. The new rates also mean a 44% increase in water costs per cubic meter, and a 25% decrease in wastewater costs per meter.

The new rates will allow the city to meet revenue requirements with an additional $2,000,000 annually for capital projects such as replacing underground infrastructure.