Maine Water Co. is asking state regulators to raise water prices by about $3 per month for the average residential customer in Biddeford, Saco, Old Orchard Beach and Scarborough.
The company filed its rate request last week, seeking $1.7 million more in annual revenue than the $4.6 million it takes in annually from a base of about 16,000 customers in its Biddeford and Saco division.
The company, acquired by Connecticut Water Service in 2012, said it is the first rate increase application in seven years for the water company previously known as the Biddeford & Saco Water Co.
If approved, the bill for a residential customer using about 500 cubic feet of water per month would rise from about $12.39 to about $15.70 in two years.
The company has requested that regulators approve the increase over two years in order for it to recover about $8 million in infrastructure upgrades made since the utility’s last rate increase in 2007.
The company said it has put more than $1 million toward upgrades to its water treatment plant, more than $5 million to replace aging water mains, services and hydrants, about $850,000 to replace a pump station that delivers water to the southern part of its distribution system and more than $500,000 to replace old water meters.
Regulators have nine months to review the rate increase request.