Pennichuck East Utility Inc.âs proposed water rate hike of just over 21% has Litchfield residents and town officials concerned.
The subsidiary of Pennichuck Corporation recently submitted a rate filing with the New Hampshire Public Utilities Commission saying its revenue needs were about $10.7 million, while its actual revenues were closer to $8.8 million.
âTemporary rates are necessary because, unless temporary rate relief is granted, PEUâs inadequate revenues will result in the confiscation of the companyâs property,â attorney Marcia Brown wrote.
The water company is seeking both new temporary water rates and permanent rates, according to the petition. Current rates are $20.70 based on a 5/8-inch meter, while the proposed temporary rate is $23.81 and the proposed permanent rate is $24.17.