Company: CNLHP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000072741-25-000007
Chunk: 303

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 303
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 adjusting for the cap, the increase to base distribution rates is $85.6 million effective November 1, 2024 (of which $8.8 million is offset by a reduction in the GSEP revenue requirement and GSEP rate also taking effect on November 1, 2024 for a net distribution rate change on November 1, 2024 of $76.8 million).  Base distribution rates will be increased effective November 1, 2025 to incorporate the $62.2 million remaining revenue requirement.  On November 7, 2024, the DPU approved this filing.PSNH Distribution Rate Case:  On June 11, 2024, PSNH filed an application with the NHPUC for approval of a temporary annual base distribution rate increase.  On July 31, 2024, the NHPUC approved a settlement agreement that was reached by PSNH, New Hampshire Department of Energy, and the Office of the Consumer Advocate to implement a temporary annual base distribution rate increase of $61.2 million effective August 1, 2024.Also on June 11, 2024, PSNH filed an application with the NHPUC to request an increase in permanent base distribution rates of $181.9 million, which is inclusive of the temporary rate increase, and proposed to take effect August 1, 2025.  The temporary rates are subject to reconciliation based on the outcome of the permanent rate case back to the date when temporary rates took effect.  The permanent rate increase request includes $247 million in unrecovered storm costs to be recovered over a five-year period.  As part of the rate case, PSNH proposed to implement a performance-based rate making plan that would adjust rates annually over a four-year term, with a commitment to not file another rate case for at least four years.  The plan includes a revenue-cap formula adjusted for inflation, a supplemental capital adjustment formula to support PSNH’s planned capital infrastructure improvements, an exogenous events recovery mechanism, performance metrics and an earnings sharing mechanism, among others.  If the NHPUC approves the performance-based rate making plan as proposed, the previously established RRA and PPAM rate reconciling mechanisms and lost base revenues will be eliminated.  The NHPUC is permitted up to twelve months to investigate the proposed rates and issue a final order.  A decision by the NHPUC on permanent rates is expected by August 1, 2025.

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