Pennichuck, New Hampshire Agree On Rate Increase

Stock quotes in this article: PNNW  

MERRIMACK, N.H. (AP) — Pennichuck Corp., a water utility and real estate holding company, said Friday that the New Hampshire Public Utilities Commission approved a rate settlement that will increase its water subsidiary's annual revenue by about $4.7 million.

The settlement replaced a temporary increase that had been in effect since July 2008. Pennichuck Water faced rising operating expenses and had invested $40 million in a major upgrade to its water treatment plant.

Shares of Pennichuck fell 52 cents, or 2.2 percent, to $22.73 in afternoon trading.

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