State cuts United Illuminating’s revenue and rate increase levels

By Phil Hall

No Comment

Connecticut’s Public Utilities Regulatory Authority (PURA) sliced down a revenue increase request by United Illuminating Co. from the $98 million level requested by the utility in July for 2017 to approximately $39 million. PURA will also allow UI to experience revenue increases of $11.5 million in 2018 and $2.9 million in 2019.

The state agency also slimmed down UI’s return on equity from its current 9.15 percent level to 9.10 percent and shrank UI’s proposed monthly service charge for most residential customer to $9.64, roughly half of the current $17.25 to $18.74 range that is now being charged. PURA estimated that the overall monthly rate impact on an average residential customer will be approximately 3.25 percent beginning in January.

“PURA’s ruling strikes an appropriate balance between UI’s need for revenue to maintain a reliable, safe system with customer expectations for fair and reasonable rates,” said PURA Vice Chairman John W. Betkoski III.


About the author

Phil Hall
Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of seven books, the host of the SoundCloud podcast "The Online Movie Show" and a writer with credits in The New York Times, New York Daily News and Wired.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked (required)