SABESP announces incentive to encourage consumption reduction
SAO PAULO, Feb. 4, 2014 /PRNewswire/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), one of the largest water and sewage service provider in the world based on the number of customers, pursuant to CVM Instruction 358 of January 3, 2002, and amendments thereto, hereby informs its shareholders and the market in general that, on February 3, 2014, in accordance with ARSESP Resolution 469, it introduced a financial incentive to encourage customers served by the Cantareira System to reduce their water consumption.
The measure is necessary due to the critical situation of the Cantareira System, which is at 21.9% of its capacity, its lowest ever level. The System supplies 9.3 million people.
Customers who reduce their average monthly consumption by at least 20% over their monthly average for the last 12 months, i.e. from February 2013 to January 2014, will be entitled to a 30% discount on their bill.
This measure will apply to residential, commercial and industrial customers supplied by the Cantareira System and will be valid for the bills issued for the months of February to August 2014, which will reach customers in the months of March to September 2014, or until reservoir levels are normalized.