The dark side of privatization:
Aqua North Carolina is asking state regulators for a 19.15 percent rate increase to raise bills for its water and sewer customers by $240 a year. It’s the third rate case in the past five years for the state’s biggest private water utility, which already charges twice as much as Raleigh, Durham, Cary and many municipalities. Aqua is a publicly traded company admired on Wall Street for its strategy of aggressive rate requests to recover investments in pipes and to reward shareholders.
Not only should the Utilities Commission refuse this rate hike, the Attorney General's office needs to open an investigation into the already hugely exorbitant charges this company is levying on its customers every month.
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