CT SB00348

Authorizes the Public Utilities Regulatory Authority to approve water company rates that promote conservation, including inclining block rates, seasonal rates, peak period rates, drought rates, and funds for consumer education and rebate programs for water-efficient fixtures.

Requires the Water Planning Council to submit a report by July 1, 2012 recommending water and energy conservation programs eligible for recovery in water company rate cases, including meter technology, monthly billing, customer audits, and leak detection programs.

Establishes a water conservation and sustainability adjustment charge or credit mechanism allowing water companies to recover revenue shortfalls or provide credits when they fail to achieve authorized revenues and do not exceed their rate of return by more than 100 basis points.

Amends municipal waterworks provisions to authorize local legislative bodies to establish rates that promote water conservation through similar rate designs and consumer programs.

Increases the Water Infrastructure Improvement Charge (WICA) cap from 7.5% to 10% of annual retail water revenues between rate cases, and expands eligible WICA projects to include energy-efficient equipment, renewable energy investments, and capital improvements for river and stream flow compliance.