Company: CNLHP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001628280-25-037369
Chunk: 142

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-08-04
Form: 10-Q
Item: Item 8
Chunk 142
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 this proceeding and the resulting impact to CL&P. 

CL&P Storm Filings:  On March 28, 2024, PURA established a prudency review proceeding for the purpose of receiving and reviewing evidence of the costs reported by CL&P in response to catastrophic storms and pre-staging events totaling approximately $634 million that occurred between January 1, 2018 and December 31, 2021.  On December 31, 2024, CL&P filed a supplement to its March 2024 prudency review application to request that PURA evaluate the prudence of its costs for nine additional catastrophic storms and two additional pre-staging events for the period January 1, 2022 through January 31, 2023 totaling approximately $173 million.  On July 10, 2025, CL&P filed a second supplement to its March 2024 prudency review application to request that PURA evaluate the prudence of its costs for ten additional catastrophic storms for the period February 1, 2023 through December 31, 2023 totaling approximately $171 million. Although we cannot predict the ultimate outcome of this matter, we continue to believe these deferred storm restoration costs were prudently incurred and are probable of recovery.  On July 25, 2025, CL&P filed a third supplement in this application to include carrying charges calculated at the weighted average cost of capital on the deferred storm costs totaling $246 million, which reflects CL&P’s actual financing costs on the unpaid storm costs from the date the deferred storm costs first began to accrue through May 2025.  These carrying charges have not been deferred on the balance sheet. PURA’s procedural schedule includes briefs due in the first quarter of 2026.  

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Yankee Gas Distribution Rate Case:  On November 12, 2024, Yankee Gas filed an application with PURA to amend its existing distribution rates for effect on November 1, 2025.  Yankee Gas’s rate application requested approval of a distribution rate increase of $209 million, which included a base distribution rate increase of $274 million, partially offset by a reduction of $65 million in the combined Gas System Improvements and System Expansion Reconciliation rates.  Yankee Gas subsequently updated its proposed cost of service through a series of supplemental filings to incorporate updates resulting in an amended requested distribution rate increase of $193 million.  In addition, Yankee Gas requested approval to implement a rate credit of $37.4 million to