Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 35

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 35
---
 storm-related expenses for the period January 1, 2018 through January 1, 2025, which covers the majority of deferred storm costs on the CL&P balance sheet, as well as advanced metering infrastructure (AMI) and legacy meter investments, allowing for the recovery of these costs from customers over a longer term to mitigate short-term rate impacts.  The Act also seeks to reduce electric rates for retail customers by revising the statutory framework for renewable portfolio standards.

The Act also directs PURA’s procurement manager, after consultation with the electric distribution companies, the Consumer Counsel and the Commissioner of DEEP, to file with PURA by February 15, 2026 a proposed amendment to the plan to procure standard electric service that would authorize electric distribution companies to, among other things, make dynamic market purchases to attempt to reduce the average cost and minimize the price volatility of standard electric service.

Implementation of the Act’s provisions will require further regulatory proceedings and administrative action.  We do not anticipate any significant impact to our operating revenues or earnings as a result of the Act’s enactment.  However, we expect PURA to initiate proceedings related to 

55

securitization, renewable portfolio standard obligations, and other provisions in the Act, which may impact future rate design and recovery mechanisms.

On October 20, 2025, Governor Lamont nominated four new PURA commissioners who, along with an existing commissioner, enable the agency to now operate with the maximum number of commissioners. The four nominees will serve in an interim capacity until they are confirmed by the legislature.

PFAS Settlements:  Aquarion opted into class-action settlements with the defendants 3M Company, E.I. duPont de Nemours and Company, Tyco Fire Products LP, and BASF Corporation.  These settlement agreements were entered to resolve claims of per- and polyfluoroalkyl substances (PFAS) contamination in the drinking water provided by public water systems.  In July 2024 and April 2025, Aquarion and other qualifying class members submitted claims to receive settlement awards; these awards were allocated based on the overall number of claimants, PFAS concentrations and flow rates of water sources, and a variety of other factors.  The final, total recovery from these settlements is unknown and will be based on the Claims Administrator’s review of the submitted claims and the subsequent allocation procedures.  Aquarion anticipates receiving recovery from 3M Company over the next nine years and from E.I. duPont de Nemours and Company