Carolina Water Co. inquiry needed
I have several questions regarding the proposed Carolina Water rate increase that I have not seen asked, let alone addressed.
First, my money market account is earning .15 percent interest and has been under 1 percent for several years. Most of my stock dividends are 3 to 4 percent or less per year. What is the “reasonable rate of return” that Carolina Water Co. expects?
Second, how long will it take Carolina Water Service to recoup their investment at the rate they are requesting? When the investment has been recouped, do they plan to drop their rates back to current levels? Of course not! So do we pay for their investment over and over again even after it has been recouped?
Third, how much of the increase is going to go to the investment recoupment, and how much will be wasted through non essentials.
When I visit other areas in South Carolina, Georgia and Alabama, I ask my hosts what their monthly water bill is. Their answers are always much lower than mine (and my household is very conservative with water usage).
The utility commission should examine the efficiency of Carolina Water’s operation.
I very much agree with Don Long in requiring they make the complete audit public to help in determining what a reasonable increase should be.