Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 162

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 162
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 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.  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