CT SB00276

Water companies are exempted from Public Utilities Regulatory Authority approval for loans administered by state agencies that do not exceed 5% of the company's long-term debt in a calendar year, with filing requirements within 30 days of loan issuance.

The Public Utilities Regulatory Authority must issue final decisions on water company rate filings within 350 days from the proposed effective date, matching timelines for electric and gas companies.

Water Infrastructure and Conservation Adjustment (WICA) charges are capped at 10% of annual retail water revenues approved in the most recent rate filing and 5% for any 12-month period, with resets to zero upon approval of new base rates.

An earnings sharing mechanism is established requiring at least 80% of overearnings exceeding the allowed return on equity by more than 50 basis points to be credited to ratepayers rather than shareholders.

Water companies with more than 75,000 customers must undergo complete rate case reviews every four years, consistent with requirements for gas and electric distribution companies.