PURA Cuts Nearly $50 Million From CL&P Storm Recovery Cost Request
NEW BRITAIN, Conn. (AP) _ State regulators have cut nearly $50 million from a request by Connecticut’s largest utility for ratepayers to pay for recovery from five destructive storms.
The Public Utilities Regulatory Authority issued a preliminary decision Monday for Connecticut Light& Power to recover $365 million for preparation and response to Tropical Storm Irene in August 2011, a Nor’easter two months later, Superstorm Sandy in October 2012 and two major storms in June 2011 and September 2012.
CL&P may recover the costs over six years. It asked for permission to bill ratepayers for $414 million.
The Berlin-based utility said it was still reviewing the decision.
Regulators said an agreement allowing parent company Northeast Utilities to purchase NStar in Boston required CL&P to freeze distribution rates until at least Dec. 1 and absorb the first $40 million in storm costs.
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