HARTFORD, Conn. (Legal Newsline) - Connecticut Attorney General Richard Blumenthal said Monday that he is disappointed that the Department of Public Utility Control failed to eliminated a rate increase request by Aquarion Water.
Blumenthal said he is happy with the significant amount that the DPUC cut Aquarion Water's potential rate increase, but will file exceptions asking the DPUC to cancel any planned increase.
"DPUC took a good first step, slashing Aquarion's outrageous 24-percent rate increase request to 10.4 percent -- but it needs to cut deeper," Blumenthal said. "This huge hike is still too high, threatening consumers and businesses struggling to stay above water."
Aquarion was seeking to have DPUC authorize a profit of 10.6 percent. The DPUC's preliminary decision reduced that profit level to 9.8 percent.
"DPUC should deny Aquarion any rate increase, compelling the company to share the struggle of their customers," Blumenthal said. "I will fight to keep rates unchanged, a lifeline for consumers and businesses seeking to get back on their feet. Aquarion-like its residential and commercial customers-must do more with less."
Blumenthal said his office wants to further reduce Aqaurion's authorized profits.