Connecticuit Water Service gets the nod from state regulators to lower rates

Connecticut Water Service (CTWS +0.7%) says its regulated public utility subsidiary has received approval from state regulators to lower its customer rates starting April 1, 2014.

The rate cut follows a settlement agreement between CTWS, the Office of Consumer Counsel, and the Connecticut attorney general, with the company returning the benefits of a recent IRS tax law clarification resulting in a $10M federal tax refund for tax years 2010 through 2012.

The utility also agreed not to seek a general rate increase until 2015 at the earliest and to delay its planned 2014 Water Infrastructure and Conservation Adjustment filing by at least six months.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs