(Hartford, Conn./WTIC) - State Attorney General William Tong is lauding action by the Public Utilities Regulatory Authority in rejecting a requested rate hike by Connecticut Water Company.
The company had requested a $20 million hike that would have increased rates by 20-percent for its 360,000 customers across five dozen towns.
PURA rejected the request, instead opting to grant Connecticut Water a 0.74 percent increase.
Tong says customers have "shouldered the burden of relentless rate increases" for eight years running.
He said in a brief filed back in May that there had been a multitude of unnecessary and excessive costs on the company's part that could be eliminated or reduced to mitigate the need for a rate increase.
Tong also says Connecticut Water's request of a 10.4-percent return on equity for shareholders would be higher than any other statewide utility.
