Attorney General Asks Regulators to Reject Water Company Rate Increase

Attorney General George Jepsen asked regulators to reject Aquarion’s $33 million rate increase Thursday saying that it’s neither reasonable nor necessary. 

Aquarion is the state’s largest water supplier and has proposed increasing its rates by 23 percent for the next three years. They say the money will go toward water infrastructure improvements that have been installed over the past three years. 

Jepsen cited a couple problems with the water company’s application including a “high return on equity, miscalculated levels of expected revenues, as well as questions about ratepayer-funding of

executive compensation and employee bonus program,” according to a report in the Hartford Courant. 

Jepsen revised their rate calculation and reduced it to $20 million “as a first step.” 

Click here to read the full report in the Courant.