Providence Water Introduces 0% Interest Loan to Help Homeowners Replace Private Lead Service Lines
(PROVIDENCE, RI – August 24, 2017) Providence Water is launching a new pilot program that is offering 3-year 0% interest loans for homeowners to replace private lead service lines. The 0% interest pilot program, approved by the Public Utilities Commission (PUC) is a proactive initiative as part of Providence Water’s multi-‐pronged proactive approach to minimize customers’ exposure to lead. If a homeowner replaces the private side of the service line Providence Water will automatically replace the public side at no cost.
“Replacing the lead service line can cost a property owner, on average, $2500 and $3000,” said Providence Water General Manager Ricky Caruolo. “This pilot program is a great initiative to help offset the financial burden of replacing lead service lines. We continue our ongoing aggressive programs to mitigate exposure to lead, and I personally want to thank the PUC for its input and approval of this pilot program.”
“Providence Water did a tremendous job revising its initial idea and creating this pilot program, which the PUC approved of unanimously. Providence Water deserves significant credit for its efforts,” said Margaret Curran, PUC Chairperson. “This may be the first time such a water program for public health benefits has been included in rates. I am hopeful the annual program reports will show that people are taking advantage of this new opportunity.”
The 3-year 0% interest loans for replacement of private side lead service lines will be available on a first come-first serve basis. To find out more information regarding your property, please call (401) 521-6303.
“We’re committed to doing everything we can to ensure the water reaching our customer’s homes continues to be some of the best in the country,” said Providence Water Supply Board Chairman Xaykham Khamsyvoravong. “This program is about giving homeowners a way to do their part making sure the plumbing they own from curb into their homes is lead-‐free.”