State Regulators OK Eversource Storm Cost Recovery, Reject 'Carrying Charges' In Final Decision

“We appreciate the thoughtful and deliberate process PURA implemented to reach this decision. Customers demand a fast and effective storm response when our state is impacted by extreme weather and have a low tolerance for outages. Meeting those customer expectations requires appropriate storm preparation and response, which comes at a substantial cost. PURA’s final decision is an important step toward recovering the significant and prudently incurred costs associated with responding to and restoring power following several destructive storms from 2018 - 2023.

“Storm response is a process of continual improvement, and we look forward to applying what we’ve learned from this outcome to improve our process going forward. With affordability a main focal point here in Connecticut and across the nation, the authorization to securitize these catastrophic storm costs will allow us to remove those hundreds of millions of dollars from our recently filed rate review, resulting in a lower bill impact for customers. We will now focus on moving forward with securitization of these storm costs, which is a complex and lengthy process but one that will lead to significant savings for customers.”