NEW BRITAIN, Conn. (AP) — Regulators have cut $49 million from a request by the state's largest utility for ratepayers to pay for work preparing for and recovering from five destructive storms.
The Public Utilities Regulatory Authority on Monday issued a preliminary decision allowing Connecticut Light & Power to recover $365 million for preparation and response to Tropical Storm Irene in August 2011, a Nor'easter two months later, Superstorm Sandy in October 2012 and two major storms in June 2011 and September 2012.
CL&P may recover the costs over six years. It asked for permission to dun ratepayers for $414 million.
The Berlin-based utility said it was still reviewing the decision.
"Many of the storms included in this filing were historic, causing unprecedented damage to our electric system, which is costly to repair," CL&P said. "Restoring and rebuilding the electric system after storms is a time-consuming process that involves thousands of employees as well as out of state crews and other resources."
Regulators said an agreement allowing parent company Northeast Utilities to purchase NStar in Boston in 2012 required CL&P to freeze distribution rates until at least Dec. 1 and absorb the first $40 million in storm costs.