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CL&P Tells Regulators It Wants To Raise Electricity Rates By 5.9%
Connecticut Light and Power said Friday it wants to raise electricity rates by 5.9 percent, on average, starting Dec. 1, mostly to fix utility poles, wires and other parts of an aging electrical grid.
The average customer using 700 kilowatt hours a month would see an increase of $6.76 in monthly charges, the company said.
CL&P said it has an operating deficiency of $117 million for capital investments in infrastructure needed to improve reliability and service to customers.
The power company, which distributes electricity across most of Connecticut, will have to convince state regulators the rate hike is necessary before it can charge customers more.
http://www.courant.com/business/hc-clp-rate-hike-20140509,0,1434816.story
The average customer using 700 kilowatt hours a month would see an increase of $6.76 in monthly charges, the company said.
CL&P said it has an operating deficiency of $117 million for capital investments in infrastructure needed to improve reliability and service to customers.
The power company, which distributes electricity across most of Connecticut, will have to convince state regulators the rate hike is necessary before it can charge customers more.
http://www.courant.com/business/hc-clp-rate-hike-20140509,0,1434816.story
So they let the system fall into disrepair for years while raking in the profits, and then they raise rates to fix it all the while paying their executives several times the pay of the LEADER OF THE FREE WORLD!
