The Connecticut Public Utilities Regulatory Authority approved what amounts to a 7.5 percent decrease this year in rates for customers of Connecticut Light & Power Co., with United Illuminating Co. customers to enjoy an 8.5 percent drop.
CL&P is a subsidiary of Hartford-based Northeast Utilities and is the dominant transmission company in Fairfield County. United Illuminating, owned by New Haven-based UIL Holdings Corp., provides power in parts of the Bridgeport area.
CL&P said the cut will result in the lowest customer rates since 2005. Businesses cite high electricity rates as one of the biggest deterrents to running a facility in Connecticut.
Separately, Northeast Utilities plans to install a $218 million transmission cable in New London and Windham counties, with the goal of improving power reliability throughout the state.
Northeast Utilities submitted an application to the Connecticut Siting Council for the 37-mile line, which would connect with a line planned for Massachusetts in conjunction with National Grid.
