The state Public Utilities Regulatory Authority will open public hearings Wednesday on a recent proposal from Connecticut Light & Power Co. to increase electric rates for residential and small-business customers.
CL&P is seeking to increase its fixed monthly service fee for residential customers from $16 to $25.50 per month, a nearly 60 percent increase. According to press release from the state, that would raise the fixed portion of residential customers’ bills by 20 percent. The fixed monthly charge for small businesses would increase by 45 percent, the press release said.
CL&P also seeks to finalize recovery costs for $90 million spent on repairing damages caused by major storms and $25 million to improve the electric grid’s resiliency, according to a letter from Gov. Dannel Malloy sent to PURA’s commissioners Tuesday.
In the letter, Malloy said CL&P faces new business challenges that require changing its revenue stream. He said the state needs to find an innovative approach to “ensure the long-term fiscal health of our major electric utilities without penalizing ratepayers.”
“CL&P’s proposed increase in the monthly service fee and higher rate of return do not accomplish that objective,” Malloy said.
Mitch Gross, CL&P spokesman, told the Stamford Advocate the rate request is necessary for CL&P to make important capital investments in Connecticut’s electric infrastructure. He added that customer feedback is important and that CL&P aims to maintain an electric system that is “stronger, more reliable and more efficient  for the future.”
For a schedule of public hearings, visit dpuc.state.ct.us.
