State regulators have cut a revenue increase request by Connecticut Light and Power (CL&P) by nearly $76 million, effectively cutting electricity customers’ bills. The proposed increases were on the utility’s delivery charge components and not on the competitive generation rate.
The Department of Public Utility Control said it approved an increase of $63.4 million this year for Connecticut Light & Power and $38.5 million next year, a total of about $102 million. The subsidiary of Northeast Utilities requested increases totaling $177.6 million for the two years.
CL&P, which serves 1.2 million customers, said regulators did a good job balancing the needs of customers, the company and others.
It is important for Connecticut energy customers to understand that these rate increase cuts are dealing with the regulated delivery portion of the bill and not the competitive supply portion. The high CLP default rates are not effected by this, however those rates can be lowered by choosing a competitive electric supplier who is offering a rate lower than the CL&P price to compare rate.