If CL&P has its way, expect a hike in your electricity bill.
The company wants to make up for a $117 million shortfall by increasing the fixed rate fee for residential customers.
They say the gap is mostly driven by the need to replace aging infrastructure and to strengthen the electric system.
Some ways the company plans on closing the gap are:
- Increasing the fixed rate fee for residential customers by 59 percent from $16 to $25.50.
- The current fixed for residential electric heat rate is $20.25. The proposed rate is $30, an increase of 48 percent.
If regulators approve the rates as proposed energy experts say it would decrease the case for investing in energy efficiency and renewables like rooftop solar.
Experts argue customers would have less control over their bill since it’s coming from a portion of the bill they can’t control through their energy efficiency. They also say it would hurt low-use customers.
CL&P argues its revenues should be more steady and that’s why the company wants rates to be more fixed and less based on how many kilowatt-hours are sold.
The company submitted the proposal last month to the Public Utilities Regulatory Authority. If approved CL&P wants the rate increase effective in December.
Customers will have a chance to speak out about the matter at three upcoming hearings.
PUBLIC COMMENT HEARINGS:
Wednesday, August 27: 6:30 p.m.
10 Franklin Square
New Britain, CT
Thursday, August 28: 6:30 p.m.
Stamford Government Center
888 Washington Blvd.
Wednesday, September 3: 6:30 p.m.
New London City Hall
181 State Street
New London, CT