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Federal Decision Orders Electric Companies to Issue $30 Million Refund

By: NBC Connecticut |

Connecticut utility companies owe local customers a $30 million refund, according to a decision handed down by the Federal Energy Regulatory Commission last week, and that is expected to cut at least part of the utility rate.

On Oct. 16, the federal agency issued the ruling, which comes after legal claims from the Connecticut Public Utilities Regulatory Authority, along with other New England officials about the return on equity rate to the owners of electricity transmission certain facilities.

“Notwithstanding our ongoing claims regarding FERC ROE methodology flaws, this FERC ruling is a victory for Connecticut electric ratepayers,” Public Utilities Regulatory Authority Chairman Arthur H. House said in a statement.

In all, several companies, including Northeast Utilities Service Company and The United Illuminating Company, owe New England customers approximately $70 million in refunds.

According to PURA, you will not be getting a check in the mail. Instead refunds will show up as an adjustment on your bill and that is expected to reduce the rate in the future.

How much that will affect customers here in Connecticut has not yet been determined.

In June, the federal agency agreed with Connecticut Public Utilities Regulatory Authority’s finding that return on equity rate was too high, according to the decision.

The FERC ruling set a 30-day deadline for the refund to be issued to the states.