Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 302

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 302
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, 2023, the DPU approved a $104.9 million increase to base distribution rates effective January 1, 2024.  The base distribution rate increase was comprised of a $50.6 million inflation-based adjustment and a $54.3 million adjustment for capital additions based on the difference between the historical five-year average of total capital additions and the base capital revenue requirement.NSTAR Gas Distribution Rates:  NSTAR Gas’ PBR mechanism allows for an annual adjustment to base distribution rates for inflation and exogenous events.  On September 16, 2024, NSTAR Gas submitted its annual PBR Adjustment filing for a $12.7 million increase to base distribution rates for effect on November 1, 2024.  On October 30, 2024, the DPU approved this filing.NSTAR Gas submitted its third annual PBR Adjustment filing on September 15, 2023 and on October 30, 2023, the DPU approved a $25.4 million increase to base distribution rates, of which, $15.5 million was associated with a base rate adjustment and the remainder for a prior period exogenous cost adjustment, for effect on November 1, 2023.EGMA Distribution Rates:  On November 4, 2024, EGMA submitted a revised filing for its first rate base reset for rates to be effective November 1, 2024, in accordance with an October 7, 2020 EGMA Rate Settlement Agreement approved by the DPU.  The compliance filing was ordered by the DPU on October 31, 2024.  The rate base reset occurring on November 1, 2024 adjusted distribution rates to account for capital additions (including the roll-in of GSEP capital additions), depreciation expense, property taxes, and return on rate base for capital additions placed into service through December 31, 2023.  The total revenue requirement calculated for the first rate base reset is an increase to base distribution rates of $147.8 million, of which $34.0 million is associated with GSEP investments through December 31, 2023.  Under the terms of the Rate Settlement Agreement, EGMA applied a cap on the revenue change effective November 1, 2024, and the amount in excess of the cap will be deferred for recovery through the Local Distribution Adjustment Clause (LDAC) on May 1, 2025, including carrying charges.  After