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Eversource seeks 11% rate hike for Connecticut residents by next summer

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Eversource seeks 11% rate hike for Connecticut residents by next summer


HARTFORD, Conn. (WTNH) — Eversource customers in Connecticut may see a double-digit rate hike next summer.

The electric company filed a letter of intent on Wednesday seeking a rate hike of about 11% across all customer classes and about 13% for residential customers. If the distribution rate is approved as proposed, it would begin on July 1, 2027.

A spokesperson for Eversource said the letter of intent details an annual operating revenue deficiency of about $503 million, not including storm costs between 2018 and 2023.

The economy, inflation, supply chain challenges and other factors increased equipment costs and materials across the utility industry, according to Eversource.

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To maintain the level of “affordable reliability and resiliency” customers expect, an increased investment is needed, an Eversource spokesperson said.

Read the full letter of intent below:

The letter of intent is the first step in requesting that regulators review and adjust distribution rates to reflect the modern cost of maintaining electric systems and services.

Eversource Spokesperson Sarah Paduano’s full statement on Wednesday read:

“Today we submitted a letter of intent (LOI) to file a distribution rate review for our electric operations – the first in nearly a decade. Over the last 10 years, customers have experienced increased reliability as a direct result of our strategic investments in the electric system, and increased investment is needed to maintain the level of affordable reliability and resiliency that customers have come to expect. 

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The LOI is standard procedure and submitted prior to filing the actual rate review application. This is the first step in the process to request regulators review and adjust current distribution rates to better reflect the cost of maintaining the electric system and safely delivering power to customers across Connecticut. Our LOI details an operating revenue deficiency of approximately $503 million annually, which excludes 2018-2023 storm costs. If approved as proposed, the average increase would be approximately 11% across all customer classes and approximately 13% for residential customers starting July 1, 2027.

Our storm costs are currently being evaluated by PURA in a separate docket, and we are hopeful regulators will authorize securitization for those costs, which is a specialized financing method that will allow those costs to be recovered over a much longer timeframe of 20 years and at a lower interest rate compared to the traditional six year recovery. If securitization is approved, this will substantially lower bill impacts for customers and allow us to keep the full amount of storm costs from our rate review application.

Connecticut Attorney General William Tong released the following statement Wednesday in response to the proposed rate increase:

“Connecticut families are getting crushed by unaffordable energy costs while Eversource executives crow to Wall Street over surging profits and rake in multimillion dollar bonuses. But they choose now to demand hundreds of millions of dollars more. Why? Because after years of litigation and lobbying, they finally ran their chief regulator out of town. They want a rate hike now not because they need one, but because they think they can get away with it. We’re going to scrutinize every profit, every bonus, every perk and every padded expense in their application and we’re going to be fighting for Connecticut families and small businesses at every step of this process.”

Paduano said there are no CEO, CFO, or company president salaries or variable pay included in the proposed rate request.

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Consumer Counsel Claire E. Coleman also released the following statement on Wednesday on the rate filing:

“A letter of intent is the first step in the rate case process, where a company notifies regulators that it intends to seek a rate increase. Eversource will now have up to 60 days to file a full application, formally triggering what is expected to be one of the most consequential utility review proceedings in years. Once filed, OCC will aggressively scrutinize the company’s request, conduct discovery, cross examine Eversource witnesses, and present recommendations to PURA to ensure customers are not asked to pay for anything beyond the most necessary and cost-effective investments. My office will prioritize keeping  costs as low as possible for consumers already struggling with affordability challenges, while promoting critical infrastructure, cybersecurity, consumer protections, and overall system reliability. Because Eversource has not undergone a rate review since 2018, this case will provide the first real opportunity in years to thoroughly examine the company’s operations, spending decisions, and priorities under a microscope. This process will also provide multiple opportunities for members of the public, community organizations, and elected officials to participate through public hearings and written comments submitted into the record. OCC strongly encourages consumers to stay engaged throughout the proceeding and to visit our website or contact our office directly for information on how to participate.”


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Watch News 8 on WTNH.com or the free WTNH News 8 streaming app on Roku, Apple TV, Amazon Fire TV and select Samsung Smart TVs.



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Connecticut

LIST: Where to find splash pads in Connecticut this summer

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LIST: Where to find splash pads in Connecticut this summer


NEW HAVEN, Conn. (WTNH) — Looking for a free way to stay cool this summer in Connecticut?

Parks, recreation centers and beaches across the state are opening as temperatures continue to climb.

See News 8’s developing list below:

New Haven

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  • Foote Park in Brandford
  • East Haven Town Beach
  • Quasy Amusement Park in Middlebury
  • Lighthouse Point Park
  • Nolan Athletic Complex in Ansonia
  • Villano Park in Hamden

Hartford

  • Verplanck Elementary School in Manchester
  • Nathan Hale in Beach in Manchester
  • A.W. Stanley Park Pool in New Britain
  • Willow Brook Park Pool in New Britain
  • Chesley Park in New Britain
  • Willow Street Park in New Britain
  • Beachland Park in West Hartford
  • Fernridge Park in West Hartford
  • Kennedy Park in West Hartford

Middlesex

  •  Watrous Park in Cromwell
  • Clinton Town Beach
  • Veterans Memorial Park in Middletown

New London

  • The Dinosaur Place in Montville

Windham

  • Paderewski Park in Plainville

Splash pad locations operate at different times. Contact each location for specifics on parking, opening times and residency requirements.

Have a splash pad to add to our list? Email webproducer-wtnh@nexstar.tv


Download the News 8 app to get breaking news and weather alerts.

Watch News 8 on WTNH.com or the free WTNH News 8 streaming app on Roku, Apple TV, Amazon Fire TV and select Samsung Smart TVs.



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Experts issue pet safety reminders during stretches of high heat, humidity in Connecticut

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Experts issue pet safety reminders during stretches of high heat, humidity in Connecticut


NEW HAVEN, Conn. (WTNH) — As high heat and humidity stretch across Connecticut for the next couple of days, experts are warning pet owners that this weather can be tough on their furry friends.

Old Lyme Veterinary Hospital chief surgeon Dr. Cornelius Marrinan joined News 8 live with some safety reminders on Thursday.

To watch the full video, click on the player above.

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A 300-Year-Old House, the Oldest in Ridgefield, Connecticut, Is Selling as Part of an Amenity-Filled Family Compound

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A 300-Year-Old House, the Oldest in Ridgefield, Connecticut, Is Selling as Part of an Amenity-Filled Family Compound


This two-house, two-barn compound includes the oldest home in Ridgefield, Connecticut, and stands right on the town’s historic and famously charming Main Street.

“It’s actually two distinct houses, two really iconic landmark properties on Main Street” that have been carefully restored and renovated, said listing agent Laura Ancona, of William Pitt/Julia B Fee Sotheby’s International Realty. 

“Over $10 million has been spent in top-of-the-line improvements and designer appointments inside and out,” according to the listing.

The older home, known as the Hawley House, was built in 1713 for the Rev. Thomas Hawley, a minister who was also the schoolmaster and town clerk, Ancona said. “It’s quite a stylish home for the time, with high ceilings, wide-board floors and multiple fireplaces,” she said.

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Other features include a gambrel roof, original paneling on the fireplace wall of one living room, original fireplace mantels, many of the original hand-blown glass windows, an original Dutch door and hand-hewn beams, according to information provided by the agent. An original double-seated, white clapboard outhouse rests about 100 feet behind the home.

The 300-year-old house is on the National Register of Historic Places as well as being one of the 32 “Stations of History” on Ridgefield’s “Museum in the Streets” tour, Ancona said.

MORE: Tour More One-of-a-Kind Homes In Out Listing of the Day Series

The 1777 Battle of Ridgefield in the Revolutionary War was fought on Main Street and it was also where Brig. Gen. Benedict Arnold’s horse was shot out from under him, she said. “We’re very historic, very Colonial.”

“It’s one of the top Main Streets in the country,” Ancona said. “It’s a Norman Rockwell-esque, tree-lined Main Street. Ridgefield is very protective of its Main Street.”

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The second house on the compound, a Gothic Revival Victorian, was built by Hawley’s descendants in 1826, she said. “It’s very grand, very colorful,” now with four finished levels. 

“It was not as well upkept as it should have been” when the sellers bought it in 2002 and began a multiyear renovation soon after, Ancona said. They were able to recreate much of the original architectural details from old photos.

The gray barn/carriage house associated with the Victorian has been renovated to now include a kitchen and great room that opens to the pool area, a gym and sauna, a poker room, a game room with a bar, an arcade and a movie theater for 30-plus people, she said. “It’s a completely tricked-out party barn.”

There’s also a circa-1900 red barn that now holds an indoor basketball court, an arts-and-crafts studio and a second-floor office with a conference room, according to the listing. It was updated and redone in 2012.

Both lots, which together are 3.16 acres, are quite deep with long driveways, which offers a great deal of privacy, even while being on Main Street, Ancona said. 

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“You can walk to town and still have all of this privacy,” she said. 

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The 8,934-square-foot compound has eight bedrooms, seven full bathrooms and two partial bathrooms. It sits on a 3.16-acre lot.

Amenities 



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Amenities include a heated pool and spa, a pool/carriage house, two two-car garages (one with two Tesla chargers), seven fireplaces, a gym and sauna, an indoor basketball court, a brick courtyard, a pergola, an outdoor kitchen, a home office with a conference room, an arts-and-crafts studio, a bar and game room, a poker room, an arcade and a movie theater.

Neighborhood Notes 



The home is within walking distance of everything Main Street has to offer, including museums, the library, Ballard Park, an old-fashioned hardware store and lots of independent shops and restaurants, Ancona said. “There is no fast food in all of Ridgefield.”

Ridgefield is adjacent to Westchester County in New York, and it’s about a 30-minute drive to the Westchester County Airport, she said. Ridgefield is about 90 miles from Manhattan. 

Agent: Laura Ancona, William Pitt/Julia B Fee Sotheby’s International Realty

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View the original listing.



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