UI has even more rate hikes in the works for Connecticut electric customers

HARTFORD >> Customers of The United Illuminating Co., already frustrated by a proposed distribution rate increase currently working its way through the state regulatory system, now have another hike looming on the distant horizon.

UI made public Thursday a $49.9 million proposal that is part of a plan to accelerate efforts to toughen the utility’s distribution network against storms. If approved by the state’s Public Utilities Regulatory Authority, UI would spend that amount over the next four years to protect its grid from storms.

The Orange-based company was asked to submit the plan to accelerate the work by Connecticut utility regulators and political leaders as part of an agreement not to oppose the acquisition of UI and its sister natural gas utilities by Spanish energy giant Iberdrola.

UI will seek to recover the costs of the project from ratepayers, but not until two years after all of the facets of the four-point plan are complete,

Read more: http://www.nhregister.com/business/20160908/ui-has-even-more-rate-hikes-in-the-works-for-connecticut-electric-customers