With Rate Increase Proposal Trimmed, CT Water Vows To Work With PURA
CONNECTICUT — Officials at Connecticut Water Company are pledging to work with state regulators on a draft decision for a rate proposal that drops the utility's rate increase request from 18.1 percent to 2.5 percent. The draft decision was released last week. Attorney General William Tong and state Sen. Jeff Gordon, whose 35th district includes the massive Shenipsit Lake reservoir (in parts of Vernon, Tolland and Ellington), lashed out at the proposal."I am pleased that PURA rejected this proposed double-digit rate hike, which would have significantly impacted hard-working individuals, families, retirees, and small businesses, particularly in the northeast corner," Gordon said. "While this decision is a relief, it prompts a critical look at why Connecticut's utility providers are compelled to propose such steep increases — pointing to flawed state policies."Said Tong, "Connecticut consumers have borne the burden of relentless rate increases for years now," Tong said. said Attorney General William Tong, in a statement released by his office last night. “Ratepayers – particularly those on fixed or limited incomes – simply could not be forced to pay for such an excessive, unwarranted hike on their water bill."Connecticut Water serves 107,000 customers in 60 municipalities. The proposed 2.5 percent rate increase by PURA's has a value of about $3 million.In a brief filed in March with PURA, Tong called on regulators not only to reject to reject an 18 percent rate hike (valued at $21.8 million) but a 10.5 percent return on equity fr the utility, which would have been "substantially higher than the state's other regulated utilities." PURA agreed with the attorney general’s recommendation, limiting the company's ROE to 9.2 percent.The final decision is due out this month. Connecticut Water President Craig Patla seemed to taje a positive approach to the draft decision. "Connecticut Water respects and appreciates Connecticut’s regulatory process, which takes into account customers, utilities and the public to make informed decisions in the best interest of all parties," Patla said. "The Connecticut Water team will closely examine the draft decision from PURA in the coming weeks."We remain committed to being good partners in the PURA rate case process. The same goal drives both Connecticut Water, PURA and all parties involved in the process – to ensure current and future generations receive high-quality, reliable water service. The rate case process allows all parties to work constructively together to debate how to best achieve that goal in a transparent and public manner."Connecticut Water is proud to have proposed an expansion of its first-in-class Water Rate Assistance Program. As proposed, and approved in the draft decision, the assistance program will provide greater discounts on water bills for those customers who need it most."Patla said the proposed 18.1 increase in annual revenue is driven "largely by our continued commitment to maintaining critical infrastructure, including recovering $135 million in infrastructure investments not currently recovered in customers rates."He continued, "The draft decision includes areas where we think a final decision should be amended, and we look forward to making our case as prescribed in the rate case process before the final decision in June."The article With Rate Increase Proposal Trimmed, CT Water Vows To Work With PURA appeared first on Across Connecticut, CT Patch.
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