For anyone wanting to voice an opinion about the proposed 20.58 percent rate hike from Tennessee-American Water Co., today is the last chance.
The Tennessee Regulatory Authority concludes the local portion of its hearing today in the County Commission Room at the Hamilton County Courthouse. The hearing will resume next week in Nashville.
On Thursday, regulatory authority officials heard from witnesses that included Joe Van den Berg of business consultants Booz & Co. and Mark Manner of business law firm Harwell, Howard, Hines, Gabbert & Manner, both of whom talked about the results of an audit that state regulators requested after Tennessee-American received a 12 percent rate hike last year.
Mike Miller, treasurer and comptroller of Tennessee-American, told regulators Thursday that, as company treasurer, he suggested the request for the rate hike be filed. The company’s current investment return is too low, he said.
“We do not think a return ... of 3.26 percent without rate relief is acceptable,” Mr. Miller said.
Meanwhile, Tennessee-American’s comparisons of its rates to another utility’s rates drew some flak Thursday.
Woody Miller of Eastside Utility disputed Tennessee-American figures in which company officials told the regulatory authority that Eastside has raised its rates 54.3 percent since 2006.
However, Mr. Miller said in a statement that Eastside implemented a 10 percent rate hike in July to address lawn sprinklers. The previous rate increase, in 1998, was 3 percent, he said.
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