Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 11

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 11
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11, 2024, PSNH filed an application with the NHPUC to request an increase in permanent base distribution rates, proposed to take effect August 1, 2025.  A decision by the NHPUC on permanent rates is expected by August 1, 2025.  For further information, see "Regulatory Developments and Rate Matters - New Hampshire" in the accompanying Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations.

Sources and Availability of Electric Power Supply

PSNH does not own any generation assets and as approved by the NHPUC, purchases energy supply from a variety of competitive suppliers for its energy service customers through requests for proposals issued twice per year, for six-month terms, for approximately 58 percent of its residential and small C&I customers and for 15 percent of its large C&I customers.  As required by the NHPUC, PSNH purchased 12.5 percent of its residential and small C&I customer load through direct wholesale market participation for the second half of 2024.

During 2024, PSNH supplied approximately 58 percent of its customer load at default energy service rates while the other 42 percent of its customer load had migrated to competitive energy suppliers.  Because customer migration is limited to energy supply service, it has no impact on PSNH’s electric distribution business or its operating income.

ELECTRIC TRANSMISSION SEGMENT

CL&P, NSTAR Electric and PSNH each own and maintain transmission facilities that are part of an interstate power transmission grid over which electricity is transmitted throughout New England.  Each of CL&P, NSTAR Electric and PSNH, and most other New England utilities, are parties to a series of agreements that provide for coordinated planning and operation of the region's transmission facilities and the rules by which they acquire transmission services.  Under these arrangements, ISO-NE, a non-profit corporation whose board of directors and staff are independent of all market participants, serves as the regional transmission organization of the New England transmission system.  

Wholesale Transmission Rates and Transmission Proceedings

CL&P, NSTAR Electric and PSNH wholesale transmission rates are calculated in accordance with a FERC-approved formula ratemaking framework and each utility is required to file an annual update on or before July 31st with resulting rates effective January 1st the following year. The formula rate framework provides for an annual reconciliation of the prior calendar year actual costs incurred related to our transmission facilities, including an allowed ROE,