Fitch Ratings retracts $275 billion estimate to replace nation’s lead pipe

Fitch Ratings corrected its cost estimate for replacing the nation's lead service lines, saying the amount would be "a few billion to $50 billion."

On March 4, the financial rating company announced that more than 6 million lead service lines exist across the country, including many in the Northeast, Midwest and older urban areas.

"We believe the capital costs to replace these lines could exceed $275 billion," Fitch said. "The EPA's latest survey estimated the entire sector needs $385 billion in water infrastructure improvements through 2030, and this estimate includes the costs to only partially replace lead pipes."

More details here.

Source: Detroit Free Press