Attorney General William Tong has filed a brief with the Public Utilities Regulatory Authority asking regulators to reject Aquarion’s request to increase its rates by 27% over three years.
Calling the increase “excessive and unwarranted,” Tong outlined areas to reduce the burden on ratepayers, including rejecting the use of ratepayer funds for $1.4 million in bonus pay, incentives for the acquisition of smaller unprofitable water systems, and for reimbursements for incomplete infrastructure projects.
“The company has failed to meet its burden of showing that such a large rate increase is necessary or appropriate,” Tong said. “To the contrary, the evidence in this proceeding clearly shows that Aquarion’s proposed rate increase is excessive and unwarranted.”
Tong went on to say that residents – especially those on fixed or limited incomes – are unable to absorb any further increases in their cost of living.
Eversource acquired Aquarion in 2017. This is the first rate case filed by Aquarion since that acquisition, although the company has previously imposed a series of escalating Water Infrastructure and Conservation Adjustment surcharges, according to Tong.
Aquarion declined to comment for this story.
