Company: CNLHP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0000072741-25-000011
Chunk: 123

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-05-05
Form: 10-Q
Item: Item 8
Chunk 123
---
 sales volumes.

46

The increase in CL&P’s NBFMCC revenues was driven by an increase in the retail Non-Bypassable Federally Mandated Congestion Charge (NBFMCC) rate.  The CL&P NBFMCC rate includes the recovery of costs incurred under long-term state mandated energy purchase contracts with the Millstone and Seabrook nuclear power plants, net of the benefits received from selling this energy into the ISO-NE wholesale market.  Effective September 1, 2023, CL&P’s average NBFMCC rate changed to $0.00293 per kWh.  As a result of the April 2024 interim decision in the 2024 CL&P RAM filing, the average NBFMCC rate increased to $0.03906 per kWh effective July 1, 2024.  As a result of the August final decision in the 2024 CL&P RAM filing, the average NBFMCC rate increased to $0.04290 per kWh effective September 1, 2024.  The rate increases primarily resulted from higher net costs associated with power purchase agreements with the Millstone and Seabrook nuclear power plants.

The increase in electric distribution wholesale market sales revenue for the three month period was due primarily to higher average electricity market prices received for wholesale sales at CL&P.  ISO-NE average market prices received for CL&P’s wholesale sales increased to an average price of $99.02 per MWh for the three months ended March 31, 2025, as compared to $39.65 per MWh for the same period in 2024, driven primarily by higher natural gas prices in New England.  Volumes sold into the market were primarily from the sale of output generated by the Millstone PPA and Seabrook PPA with CL&P.

CL&P is required by regulation to purchase electric generation from Millstone and Seabrook under PURA-approved PPAs entered into in 2019.  CL&P does not have legislative authority to use this purchased output to serve its customer load and therefore sells the energy into the wholesale market and uses the proceeds from the energy sales to offset the contract costs.  The net cost or net sales amount is recovered from, or refunded to, customers in the non-bypassable component of the CL&P FMCC rate.  Changes in CL&P’s NBFMCC retail revenues and CL&P’s wholesale market sales, as compared to the actual costs incurred, are deferred on