CT AG Praises PURA's Rejection Of Aquarion Rate Hike

CONNECTICUT — The Public Utilities Regulatory Authority this week rejected Eversource-owned Aquarion’s $36 million rate hike.

The water company's draft decision would raise rates 30 percent over three years for 236,000 customers in 72 Connecticut municipalities.

PURA’s draft decision instead orders a rate decrease of 0.192 percent ($379,365) for Connecticut customers, according to a statement released Thursday by Attorney General William Tong.

"I thank PURA for rejecting Aquarion’s proposed hike and for protecting Connecticut families and consumers from having to pay for an excessive and unwarranted hike," Tong said. "I strongly urge PURA to hold firm in its conclusion as it works toward issuing a final decision on this matter in mid-March.”

In a brief filed in January, Attorney General Tong not only urged PURA to reject the rate increase, but also the 10.35 percent return on equity for its shareholders. In its draft decision, PURA reduced that profit to 8.70 percent, which will save millions of dollars for ratepayers, according to Tong.