CONNECTICUT, USA — A final decision was issued on Wednesday by Connecticut's Public Utilities Regulatory Authority (PURA) regarding rate changes for customers of The Connecticut Water Company (CWC).
PURA approved the company's total revenue of $108,149,832 in base rates and a Return of Equity (ROE) of 9%. The approved revenue is $5,207,956, or approximately 5.06% over current levels.
This will result in the average customers' bill increasing by about $40 per year. Officials say the approved rate change represents "a lower rate increase than the company originally filed."
"The CWC in January requested a revenue increase of $20,340,653, up 20% compared to current rates, and a 10.4% ROE. The request would have raised the typical residential customer’s bill by approximately $127 per year," said PURA officials in a written statement.
PURA also approved a Water Rate Assistance Program (WRAP) proposed by CWC that provides a new rate class for low-income customers. Customers in households earning up to 60% of the state median income will be offered a 15% discount on the total water bill.
The rate change goes into effect on July 28, 2021.
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