Sec. 16-244a. Rate freeze for electric service. - Connecticut Statutes

      Sec. 16-244a. Rate freeze for electric service. (a) For purposes of this section, "base rates" means the total amount charged by an electric company to each end use customer class, as defined in its rate order in effect on July 1, 1998, for the fully bundled costs of electricity, including any customer service charge and any demand charge.

      (b) Notwithstanding sections 16-19 and 16-19a for the period from July 1, 1998, until December 31, 1999, the base rates paid to an electric company by any customer in the state for electric services, other than a customer receiving electric services under a special contract, shall not exceed the base rates that have been approved by the Department of Public Utility Control for that electric company as of December 31, 1996. Base rates shall be adjusted to the extent of any increase or decrease in state taxes attributable to sections 12-264 and 12-265 and any other increase or decrease in state or federal taxes resulting from a change in state or federal law and shall continue to be adjusted during such period pursuant to section 16-19b. Base rates may be adjusted, by an increase or decrease, to the extent approved by the department, in the event that the revenue requirements of the company are affected as the result of changes in legislative enactments other than public act 98-28*, administrative requirements or accounting standards occurring after July 1, 1998, provided such accounting standards are adopted by entities independent of the company that have authority to issue such standards. Savings attributable to a reduction in taxes shall not be shifted between customer classes. The calculation of base rates for purposes of this section shall not be affected by the change in billing format provided in subsection (b) of section 16-244e.

      (P.A. 98-28, S. 3, 117.)

      *Public act 98-28 is entitled "An Act Concerning Electric Restructuring". (See Reference Table captioned "Public Acts of 1998" in Volume 16 which lists the sections amended, created or repealed by the act.)

      History: P.A. 98-28 effective July 1, 1998.