Connecticut's Public Utilities Regulatory Authority has trimmed approximately $40 million from the rate increase requested by electricity distributor United Illuminating Company. The agency released its proposed final decision Wednesday.
Commissioners will issue a final ruling December 14.
UI requested a rate increase to address operating deficiencies of approximately $66 million in 2017, $20 million in 2018 and $12 million in 2019. The company proposed increasing residential customer rates by roughly 5 percent in each of the next three years, beginning January 1.
The Authority’s decision will still allow revenue to increase approximately $41 million in 2017; $14.4 million in 2018 and $3.4 million in 2019. The agency estimates customers rates will increase more than two percent starting in January.
UI serves about 330,000 residential, commercial and industrial customers in the greater New Haven and Bridgeport areas.