Sec. 16-243p. Recovery of costs and investments by an electric distribution company. - Connecticut Statutes

      Sec. 16-243p. Recovery of costs and investments by an electric distribution company. (a) An electric distribution company may recover its costs and investments that have been prudently incurred under the provisions of sections 16-1, 16-19ss, 16-50k, 16-50x, 16-243i to 16-243q, inclusive, 16-244c, 16-244e, 16-245d, 16-245m, 16-245n, 16-245z and 16-262i and section 21 of public act 05-1 of the June special session*. The Department of Public Utility Control shall, after a hearing held pursuant to the provisions of chapter 54, determine the appropriate mechanism to obtain cost recovery in a timely manner which mechanism may be one or more of the following: (1) Approval of rates as provided in sections 16-19 and 16-19e; (2) the energy adjustment clause as provided in section 16-19b; or (3) the federally mandated congestion charges, as defined in section 16-1. If an electric distribution company has, for six consecutive months, earned a return on equity below the return authorized by the department, earnings of such electric distribution companies that are adversely affected owing to decreased energy use attributable to implementation of the provisions of sections 16-1, 16-19ss, 16-50k, 16-50x, 16-243i to 16-243q, inclusive, 16-244c, 16-244e, 16-245d, 16-245m, 16-245n, 16-245z and 16-262i and section 21 of public act 05-1 of the June special session*, are recoverable pursuant to the provisions of section 16-19kk.

      (b) Electric distribution companies shall be authorized to earn an incentive, as provided in section 16-19kk, for costs prudently incurred by such companies pursuant to this section.

      (June Sp. Sess. P.A. 05-1, S. 15.)

      *Note: Section 21 of public act 05-1 of the June special session is special in nature and therefore has not been codified but remains in full force and effect according to its terms.

      History: June Sp. Sess. P.A. 05-1 effective July 21, 2005.