Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

August 4, 2015

CL&P receives retroactive $18M rate increase

Contributed Photo Eversource crews inspect a transmission line. The company's rate on its distribution system in Connecticut is increasing $18 million annually.

The Berlin electric utility formerly known as Connecticut Light & Power has been awarded an $18 million annual increase in its current rate collections from customers, which the company will begin collecting in five months.

CL&P – which on Feb. 2 was rebranded as Eversource Energy along with all the other Northeast Utilities subsidiaries – received a $130 million rate increase in December from the state Public Utilities Regulatory Authority. CL&P originally had asked for a $232 million increase, but PURA adjusted it downward by more than $100 million.

After finalizing that decision, PURA and CL&P officials saw that the taxes on the customer base had been miscalculated, so regulators awarded the utility an extra $18 million per year to be collected from customer rates. Essentially, PURA ruled it should have given CL&P a $148 million rate increase instead of the $130 million.

The rate case was meant to cover three years, so CL&P will be able to collecte the $148 million from customers starting on Dec. 1.

As for the $18 million CL&P hasn’t collected yet this year, the utility will recover that from customers as well starting Dec. 1, with the amount prorated over two years.

“I don’t think it will be noticeable to customers,” said Jeff Kotkin, Eversource vice president for investor relations.

Read more

Electric suppliers see customer drop-off

Sign up for Enews

Most Recent

Most Recent

Related Content

Thumbnail PURA fines Frontier $2.48M for repeatedly failing to meet performance requirements
Sweeping power grid modernization plan hits 2-year mark, with small business interests a top priority
Large-scale batteries, once hobbled by cost, ready for ‘prime time’
As storms become more frequent, CT grocers want battery incentives

0 Comments

Order a PDF