Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 28

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 28
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  Proceeds from the general obligation bond funding of $107.8 million will be provided back to customers through a reduction to the NBFMCC and SBC rates.  The updated NBFMCC and SBC rates are effective September 1, 2025 through April 30, 2026.  These rates are included in the “Public Benefits” portion of the customer bills in Connecticut.

On September 19, 2025, CL&P received $107.8 million in general obligation bond proceeds from the State of Connecticut, which represent reimbursement of incurred costs that were previously recognized as regulatory assets on CL&P’s balance sheets.  The proceeds received for the reimbursement of hardship costs and for electric vehicle charging program costs were credited against the SBC and NBFMCC regulatory deferrals on CL&P’s balance sheet as of September 30, 2025.  The proceeds from the state bond funding are presented as a cash inflow in Regulatory Recoveries within operating activities on CL&P’s statement of cash flows.

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 had subsequently amended its rate application to request approval of a distribution rate increase of $193 million.  On September 22, 2025, PURA issued a proposed final (draft) decision in Yankee Gas’s distribution rate case that included a distribution rate increase of $55.6 million, effective November 1, 2025. 

On November 5, 2025, PURA issued a final decision in the Yankee Gas distribution rate case that included a distribution rate increase of $82.2 million and a total distribution revenue requirement of $802.2 million, effective November 1, 2025.  The approved revenue requirement includes a previously recorded rate credit of $37.4 million plus carrying charges for non-firm margin credits over three years beginning November 1, 2025.  Excluding the rate credit, the distribution rate increase totaled $95.7 million.  The final decision also established an authorized net regulatory ROE of 9.32 percent, adopting a 9.48 percent ROE net of certain reductions totaling 16 basis points, and a 53 percent common equity ratio for Yankee Gas’ capital structure.  PURA declined to approve the multi-year performance-based rate making plan that would adjust rates annually as proposed