Home Energy Jepsen says CL&P should be penalized

Jepsen says CL&P should be penalized

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State Attorney General George Jepsen says Connecticut Light and Power Co. should be penalized in its recent request for a rate increase to recover storm-related costs from the last two year’s five major storms.

Jepsen claims the company withheld critical information following the October Nor’easter in 2011 and, as a penalty,  should be denied a portion of its request for a rate increase.

Earlier this month CL&P filed a request for a rate increase with the state’s Public Utilities Regulatory Authority to recover $414 million of the $462.3 million the company spent in storm-related recovery costs in 2011 and 2012. If approved by the Connecticut Public Utilities Regulatory Authority, the typical customer’s bill would increase by $3 a month, beginning December 2014.

“CL&P’s failure to provide complete and accurate documents undermined PURA’s investigation,” Jepsen said in a press release. “The company should be penalized for this conduct in a manner sufficient to deter it and others from engaging in this type of behavior in the future.”

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1 COMMENT

  1. Gotta keep those enormous profit margins pumped up. If the company had been investing in their own business infrastructure all along, perhaps the grid would not have been impacted so severely by the recent storms. Really, haven’t they pretty much been using the same antiquated equipment since the 1950’s? I don’t see where they’ve barely advanced their technology beyond the colored glass conductors from that decade. So where’s all the money from these continual rate hikes going?

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