Bill Text: CT HB06984 | 2015 | General Assembly | Chaptered
Bill Title: An Act Concerning Revenue Adjustment Charges For Water Companies.
Spectrum: Committee Bill
Status: (Passed) 2015-07-02 - Signed by the Governor [HB06984 Detail]
Download: Connecticut-2015-HB06984-Chaptered.html
Substitute House Bill No. 6984
AN ACT CONCERNING REVENUE ADJUSTMENT CHARGES FOR WATER COMPANIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subdivision (2) of subsection (c) of section 16-262y of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015):
(2) After approval of a revenue adjustment mechanism pursuant to subdivision (1) of this subsection, such mechanism shall be authorized by the authority annually thereafter until the [earlier of (A) the sixth year after] later of the sixth year after either (A) the last general rate case, [or] (B) [such time as such company files its next general rate case] the initial establishment of such mechanism by a company, or (C) the company's prior rate case is reopened and either (i) rate levels are reset by the authority, (ii) WICA surcharges are rolled into base rates, or (iii) other authorized changes in rates are made pursuant to a settlement agreement or other action by the authority. After such six-year period, the authority may authorize continuation of the revenue adjustment mechanism for up to an additional three-year period upon request by the company, pursuant to a filing with the authority at least ninety days before the revenue adjustment mechanism is due to be discontinued. The authority shall act on such request within such ninety-day period in an uncontested proceeding. Such company shall file with the authority an annual reconciliation of actual revenues to allowed revenues that shall include a report of the changes in water demands and any measures such company has taken to promote water conservation. As used in this section, "WICA" has the same meaning as "Water Infrastructure and Conservation Adjustment (WICA)", as provided in section 16-262v.