Statement from AG Jepsen on PURA Draft Decision on CL&P Distribution Rate Application
Statement from AG Jepsen on PURA Draft Decision on
CL&P Distribution Rate Application
Attorney General George Jepsen today released the following statement on the draft decision issued by the state Public Utilities Regulatory Authority (PURA) on the Connecticut Light & Power Company (CL&P) application seeking a $221 million increase in its distribution rates:
"While my office is still reviewing PURA's draft decision, I commend PURA for its extensive review in this rate case. I am pleased that the authority's draft decision reduces the company's request to increase its return on equity to a more reasonable level that is in line with other utilities operating in Connecticut.
While I'm also pleased that regulators saw fit to enact a penalty on CL&P's return on equity for its poor performance in the two major storms of 2011, I continue to believe a larger, more meaningful penalty is warranted in this rate case.
Additionally, I remain concerned that the increase to the residential customer service charge included in this draft decision – though less than the 60 percent increase CL&P requested – will disproportionately impact low-income customers and I believe it should be held flat.
All CL&P customers will still experience a significant increase in their rates as a result of this decision, and I anticipate filling additional comments with PURA prior to its final decision later this month, as I believe these further reductions, and possibly additional reductions, are appropriate."
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