Connecticut Light & Power Co. plans to ask for a 5 percent rate increase in 2011 — erasing an expected decrease.
The company notified the Department of Public Utility Control on Wednesday that it plans to file the two-year request next month.
The increase would bring in $210 million. CL&P wants to begin collecting on the higher rates on Jan. 1, 2011, the same day that a $210 million, or 5 percent, rate decrease is set to take effect. That would mean that customers’ bills wouldn’t change.
The company says it needs the extra money to continue building, maintaining and operating its distribution system.
The expected decrease is the result of bonds being paid off.
Attorney General Richard Blumenthal says he’ll fight the proposal.
In its notice, CL&P said that “while no rate increase is ever welcomed, the timing of this increase, so that customers will see no overall rate change” allows the company to remain “healthy” while not increasing what customers pay.
Blumenthal said that CL&P customers should receive the expected reduction.If CL&P is not granted its proposed rate increase, the average customer’s charges will drop about 5 percent in 2011, he said. “Just when recession-racked consumers and businesses see a glimmer of light, CL&P wants to lengthen the tunnel,” Blumenthal said.
