Sec. 16-19bb. Application or refund of electric or electric distribution company rate moderation funds. - Connecticut Statutes

      Sec. 16-19bb. Application or refund of electric or electric distribution company rate moderation funds. The Department of Public Utility Control shall require that any funds held by an electric or electric distribution company in excess of the company's authorized return on equity, which funds are intended by the department to offset future rate increases in lieu of a present rate decrease, shall be applied to such rate increases or shall be refunded to the company's customers not later than July 1, 1988. Any such funds collected by the company after July 1, 1988, shall be applied to offset such rate increases or refunded to the company's customers within one year of receipt.

      (P.A. 87-331, S. 3, 4; P.A. 98-28, S. 93, 117.)

      History: P.A. 98-28 added electric distribution companies and made a technical change, effective July 1, 1998.