Bill Text: CT HB06984 | 2015 | General Assembly | Introduced
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-Introduced.html
General Assembly |
Raised Bill No. 6984 | ||
January Session, 2015 |
LCO No. 4705 | ||
*04705_______ET_* | |||
Referred to Committee on ENERGY AND TECHNOLOGY |
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Introduced by: |
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(ET) |
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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 Subdivision (2) of subsection (d) of section 16-262y of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015):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 [such time as such] the later of the sixth year after either the company (A) files its next general rate case, (B) causes the initial establishment of such revenue adjustment mechanism, or (C) participates in its reopened rate case, 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 section 16-262v of the general statutes, "Water Infrastructure and Conservation Adjustment (WICA)" means an adjustment applied as a charge or credit to a water customers' rates to recover the WICA costs of eligible projects.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
October 1, 2015 |
16-262y(d)(2) |
Statement of Purpose:
To amend the water company revenue adjustment mechanism.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]