Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 27

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 27
---
 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.  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.  Although we cannot predict the ultimate outcome of these storm proceedings, we continue to believe these deferred storm restoration costs were prudently incurred and are probable of recovery.

CL&P RAM Filing:  On March 28, 2025, PURA issued an interim decision in CL&P’s Rate Adjustment Mechanisms (RAM) filing and approved rates for six RAM components, with rates effective May 1, 2025 through April 30, 2026.  The rates include recovery of over- or under-collection balances as of December 31, 2024, actual costs from the prior year, and adjustments to incorporate certain known and measurable cost changes not reflected in prior year costs that CL&P will incur in 2025.  On August 13, 2025, PURA issued a final decision that approved a further adjustment to the Non-Bypassable Federally Mandated Congestion Charge (NBFMCC) and System Benefits Charge (SBC) rates based on a July 1, 2025 Connecticut law that authorized the State of Connecticut to issue new general obligation bonds to reduce certain hardship costs and electric vehicle program costs recovered from customers.