State regulators approve smaller CL&P rate hike request
The Department of Public Utility Control approved a 1.9 percent rate increase for Connecticut Light & Power, or $77.8 million in additional revenue this year and $20.1 million in 2009.
CL&P, which serves about 1.2 million customers, sought a 4.6 percent increase, state regulators said.
The increase for most commercial and industrial customers will be about 1 percent and the average residential customer will be billed about 2.85 percent more, according to state regulators.
Ana Alfaro, a spokeswoman for CL&P, said officials of the Berlin-based utility were reviewing the decision Monday and have not yet calculated its financial impact.
On Jan. 18, a preliminary decision by the state awarded CL&P a 1.7 percent increase, or about $3.20 more a month for the average utility customer. The final decision issued Monday will raise this year the monthly bill by $3.65 for a residential customer using 700 kilowatt hours and about $1.14 a month next year, state regulators said.
Anthony Palermino, lead commissioner for the rate request, said it was a "complex case" that required regulators to balance conflicting interests.
"I believe that the balance struck provides adequate compensation to the company while mitigating the impact on ratepayers and ensuring reliable service," he said.
State Attorney General Richard Blumenthal criticized the action by state regulators.
"This final decision is a step backwards -- regrettably raising rates over the DPUC's draft decision, not lowering them as we have urged," he said. "This decision is a disservice to consumers already paying the highest electricity rates on the continental United States."
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