State regulators have formally trimmed a revenue increase request from Connecticut’s largest electric utility by nearly $76 million, effectively cutting electricity customers’ bills, The Associated Press reports.
The Department of Public Utility Control on Wednesday said it followed through on its preliminary decision in June and approved a smaller-than-requested increase of $63.4 million this year for Connecticut Light & Power and $38.5 million next year, a total of about $102 million.
The subsidiary of Northeast Utilities in Hartford requested increases totaling $177.6 million for the two years.
Due to the expiration of an assessment and changes in other rates effective Jan. 1, state regulators say customer bills will likely decline to about $130 a month in January 2011 from $141 a month last year.
CL&P, which serves 1.2 million customers, said regulators did a good job balancing the needs of customers, the company and others.
