Aquarion customers will be getting credits on their water bills starting in 2015 and will see their rates decrease by 5.6 percent, according to a release from the state Attorney General and Consumer Counsel.
It’s the result of an agreement filed with the Public Utilities Regulatory Authority on Monday and awaiting approval from regulators.
According to the release, Aquarion is being refunded $29 million for taxes paid since 2007 following new IRS tax law regulations issued in Sept. 2013. The water company says it will reimburse customers the full amount.
Aquarion customers will receive credit on their bills over a three-year period starting Jan. 2015, when rates will also decrease by 5.6 percent, according to the release.
”This is a very positive result for Aquarion’s customers,” said Consumer Counsel Katz, in a statement. “They will see nearly $10 million in bill credits annually over the next three years, which will make a noticeable difference in customer’s bills.”
The water company will also delay imposing an additional Water Infrastructure and Conservation Adjustment surcharge from April 2014 until Oct. 2014, the release says.
“We are committed to providing our customers with the highest quality water and outstanding service,” said Charles V. Firlotte, Aquarion President and CEO, in a statement. “We are grateful that these regulations will allow us to continue to reliably provide safe, high quality water, at an even more economical rate. I am also appreciative of the assistance and support of the Connecticut Office of Consumer Counsel and the office of the Connecticut Attorney General in making this happen.”