Connecticut regulators cap United Illuminating rate request
"PURA's ruling strikes an appropriate balance between UI's need for revenue to maintain a reliable, safe system with customer expectations for fair and reasonable rates," PURA Vice Chairman John Betkoski III, who was the lead commissioner on the decision, said.
Under PURA's ruling, UI will be able to increase revenue by $43 million in 2017, by $11.5 million in 2018 and by $2.9 million in 2019. While the company's proposal would have seen customer bills increasing by roughly 5 percent each year from 2017 to 2019, customers will now see an average increase of 3.25 percent in 2017.
UI also had proposed maintaining the monthly service charge of $17.25, but PURA's ruling caps the monthly service charges for residential customers at $9.64.
PURA's decision was based in part on 10 days of hearings and two public comment sessions.
UI's customer base includes approximately 330,000 customers in the New Haven and Bridgeport areas.