Regulators give utility a hard ‘no' on interim rate hike - NBC Connecticut
Regulators give utility a hard ‘no’ on interim rate hike - NBC Connecticut
Electric rates for a large swath of Connecticut consumers will not go up any further, at least in the short term.
Regulators said United Illuminating will not receive a proposed interim rate increase of about 2%.
This would be on top of the 2% rate increase regulators granted the shoreline utility in August. At that time, UI was asking for 8%.
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In a statement, UI spokesman Craig Gilvarg said: “United Illuminating submitted uncontroverted evidence in support of this filing and with this summary dismissal, it is disappointing that the public utilities regulatory authority didn’t allow a public process to allow UI to prove its case. UI is reviewing the decision issued by PURA and assessing its options.”
Regulators have said they are obligated to deny any part of a company’s request not proven to be just and reasonable.
Related Knowledge Center: ENERGY BASICS: electricity
Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.