HARTFORD, Conn. (WFSB) – Aquarion, the state’s largest water company, is asking for a 42% rate increase that could affect nearly 700,000 customers across 57 towns.
The parent company, Eversource, says they have no other choice after federal regulators rejected a deal to sell Aquarion last month.
This week, Eversource filed a letter of intent to let state regulators know they are planning to request the increase. The request is not for electric rates but for water. Eversource owns the Aquarion water company.
Eversource says operating costs are rising and the company needs to make infrastructure investments.
“They are always looking for ways to make extra money, and I’m not sure what they’re spending it on. They should use that extra money to reduce our water rates,” said Ted Tadesco of Farmington, one of the Aquarion customers who could see their water bills nearly double.
Eversource says this shouldn’t be a surprise after a deal to sell Aquarion was blocked by PURA, the Public Utilities Regulatory Authority. The company said Aquarion is left with no other option than to submit this filing to PURA and needs to make “substantial investments in water-delivery infrastructure, thereby driving the need for timely and adequate cost recovery.”
Those same state regulators must approve the rate hike.
“This is going to be an active docket. We have a whole new team at PURA. I just urge them to look at this very carefully and make sure every dollar is justified,” said Gov. Ned Lamont.
Some lawmakers are outraged. State Sen. Tony Hwang said infrastructure improvements are important but a 42% rate hike is outrageous considering Eversource’s huge profits.
“These utilities are tone-deaf, and they seem more catered to Wall Street, earnings and executive compensation than to ratepayers,” said Hwang, R-Fairfield.
Laura Boland of Plainville said she would definitely be impacted if rates went up over 40%.
“And think about those on a fixed income. That’s almost double. Yeah, yeah,” Boland said.
Eversource says it expects to submit a rate application within 60 days. State regulators will then have to consider it, and there will be pressure to reject such a high increase.
Aquarion, the state’s largest water company, is asking for a 42% rate increase that could affect nearly 700,000 customers across 57 towns.
Copyright 2025 WFSB. All rights reserved.
