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Hazardville urges PURA to revisit disallowances on executive fees and profit-sharing; commissioners press storm-cost and reopener rules
Summary
Hazardville Water asked the Public Utilities Regulatory Authority to reconsider partial disallowances for directors-and-officers insurance, board fees and profit sharing and sought an express limited-reopener authorization; commissioners and the Office of Consumer Counsel said record justification is required and that overtime—not base payroll—is the usual basis for storm-cost deferrals.
Hazardville Water Company asked the Public Utilities Regulatory Authority to reconsider partial disallowances in the draft decision for directors-and-officers (D&O) insurance, board-of-director fees and profit-sharing payments, arguing precedent and the company’s small size support a smaller disallowance.
Attorney Boen told the panel the company’s profit-sharing program can align with ratepayer benefits when it is tied to operational metrics, and that it “had elements of PBR”…
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