Sec. 16-262s. Voluntary acquisition of water company. Surcharges. - Connecticut Statutes

      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.