Sec. 16-262s. Voluntary acquisition of water company. Surcharges.
Sec. 16-262s. Voluntary acquisition of water company. Surcharges. In the case
of a proposed acquisition of a water company that is not economically viable, as determined by the Department of Public Utility Control in accordance with the criteria provided in subsection (b) of section 16-262n, by a water company that is economically
viable, as determined by the department in accordance with said criteria, upon petition
of the acquiring water company and after notice and hearing, the department may allow
the acquiring water company to implement, and revise quarterly thereafter, a rate surcharge applied to the rates of the acquired water company or of both the acquiring water
company and the acquired water company, as determined by the department, that would
recover on a current basis those costs of such acquisition and of needed improvements
to the acquired water company's system, to the extent the department deems such costs
appropriate. The regulations adopted by the department pursuant to section 16-262o
shall apply for purposes of this section.
(P.A. 97-69, S. 2, 3.)
History: P.A. 97-69 effective July 1, 1997.