NEW BRITAIN — The state’s Public Utilities Regulatory Authority has approved rate changes for Connecticut Water Company that are expected to increase customer’s bills by about $40 per year.
In late July, PURA approved the company’s total revenue of about $108 million in base rates and a return on equity (ROE) of 9%, a news release stated. The approved revenue is about $5.2 million, or approximately 5%, over the previous level. The changes took effect July 28.
The company in January requested a revenue increase of about $20.3 million, or roughly 20%, and a 10.4% ROE. This request would have raised the typical residential customer’s bill by approximately $127 per year, the release stated.
Connecticut Water Company provides service to approximately 105,000 customers across 60 communities, including Beacon Falls, Naugatuck and Prospect.
PURA also approved a Water Rate Assistance Program (WRAP) proposed by the company that provides a new rate class for low-income customers. The program will offer a 15% discount off the total water bill to customers in households earning up to 60% of the state median income.