Company: CNLHP
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050033
Chunk: 165

Company: CONNECTICUT LIGHT & POWER CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 165
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 on a historical five-year average of total capital additions.  On September 15, 2025, NSTAR Electric submitted its annual PBR Adjustment filing for a $55.1 million increase to base distribution rates and a total base distribution revenue requirement of $1.34 billion for effect on January 1, 2026.  The requested base distribution rate increase is comprised of a $25.2 million inflation-based adjustment and a $29.9 million K-bar adjustment for capital additions based on the difference between the historical five-year average of total capital additions and the base capital revenue requirement.  DPU approval is expected by December 31, 2025.

NSTAR Gas Distribution Rates:  NSTAR Gas’ PBR mechanism allows for an annual adjustment to base distribution rates for inflation and exogenous events.  On June 16, 2025, NSTAR Gas submitted its annual PBR Adjustment filing for rates to be effective on November 1, 2025.  On September 11, 2025, NSTAR Gas updated its filing to request approval of a $162.6 million increase to base distribution rates and a total base distribution revenue requirement of $447.7 million.  The base distribution rate increase is comprised of a $10.3 million inflation-based adjustment and, in accordance with the DPU’s final decision in the 2020 NSTAR Gas rate case, a $152.3 million rate-base reset to incorporate capital additions for the period 2021 through 2024, which includes the transfer of GSEP revenues totaling $107.3 million into base rates, as well as other non-GSEP plant additions totaling $45.0 million.  

On October 29, 2025, the DPU issued a decision determining that NSTAR Gas was not eligible to increase its distribution rates for the rate base reset because it did not achieve certain performance metrics under its PBR plan.  For the rate-base reset, the DPU did not allow the incorporation of non-GSEP plant additions into base rates, which would have resulted in a base rate increase of $45.0 million.  The decision stated that these investments can be considered for inclusion in base distribution rates in NSTAR Gas’s next base rate proceeding.  The DPU did allow NSTAR Gas to transfer its GSEP revenues through 2024 of $107.3 million for recovery through base distribution rates effective November 1, 2025.  The DPU approved the base distribution rate increase of $10.3