Aquarion to rebate customers $10M over three years
In July 2013, while citizens of Fairfield and other towns were fighting Aquarion's proposed 23% rate hike over three years, research revealed that it should receive a tax credit on certain capital purchases the company made. We found several current examples of other water companies that passed along those savings to ratepayers in the form of lower rates. This issue was raised in the public hearings over the summer. The Connecticut PURA (Public Utilities Regulatory Authority) just announced today the reopening of the docket in order to review a proposed agreement whereby Aquarion will return $10M to ratepayers over the next three years, implying a 5.6% reduction in rates. Hopefully this will be approved and implemented soon.
Thanks again to all who wrote letters to PURA and appeared at the two hearings held in Fairfield as well as the continued fine work of Connecticut's Office of Consumer Council. Indeed, working together, we all made a big difference, including the earlier reduction to about 7% from 23% in the rate increase that Aquarion was allowed.
In July 2013, while citizens of Fairfield and other towns were fighting Aquarion's proposed 23% rate hike over three years, research revealed that it should receive a tax credit on certain capital purchases the company made. We found several current examples of other water companies that passed along those savings to ratepayers in the form of lower rates. This issue was raised in the public hearings over the summer. The Connecticut PURA (Public Utilities Regulatory Authority) just announced today the reopening of the docket in order to review a proposed agreement whereby Aquarion will return $10M to ratepayers over the next three years, implying a 5.6% reduction in rates. Hopefully this will be approved and implemented soon.
Thanks again to all who wrote letters to PURA and appeared at the two hearings held in Fairfield as well as the continued fine work of Connecticut's Office of Consumer Council. Indeed, working together, we all made a big difference, including the earlier reduction to about 7% from 23% in the rate increase that Aquarion was allowed.
| aquarion_amend_rates_-_3-17-14_-_cover_letter_re_doc._13-02-20.pdf |
