Water supplier Aquarion says it’s refinancing its $30 million debt for a water treatment plant built in Hingham in the mid-1990s.
The company says the move will save it approximately $800,000 a year, which will be passed on to customers in that town, as well as those in Hull and Cohasset.
Residents will see an average $60 reduction in their annual water bills.
Aquarion says it will move quickly to establish lower rates with the Department of Public Utilities once the debt refinancing is done.
The company’s decision to take a look at its debt follows recent rate increases and complaints about service.