Connecticut Water Wanted A 20% Rate Hike. Regulators May Only Allow Them Less Than 1%.
Connecticut utility regulators have rejected a 20% water rate hike. This comes after the Connecticut Water company proposed the increase to raise $20 million last year.
The Public Utilities Regulatory Authority released a draft decision last week allowing CT Water to increase revenues by less than 1%. That would raise about $800,000 dollars.
PURA said the company heard from customers who opposed the increase due to the financial hardships during the pandemic.
CT had argued the 20% increase was necessary to support infrastructure investments.
The final ruling on the rate adjustment will be on July 28.