CT HB06408

Require the Public Utilities Regulatory Authority to investigate the need for interim rate decreases when a public service company earns a return on equity exceeding the authorized return by at least one percentage point for two of the previous twelve quarters.

Direct the authority to adjust the existing earnings sharing mechanism to allocate a larger percentage of utility overearnings to ratepayers rather than to the utility companies.

Grant the Public Utilities Regulatory Authority flexibility in refunding electric distribution company funds that exceed the company's authorized return on equity, including the ability to direct such refunds to specific customer classes.

Amend chapter 277 of the Connecticut General Statutes to implement these changes to utility rate regulation and earnings oversight.