Thursday, December 22, 2005

i just got my natural gas bill

and it knocked me on my ass (for real)! i can't wait to get my future electric bills

Electric Bills Face A Surge Agency Proposes Letting CL&P Raise Rates 22%
By PAUL MARKS Courant Staff Writer
December 22 2005
Electric rates would rise by more than 22 percent starting Jan. 1, adding more than $23 to the average monthly residential bill, under a draft decision issued Wednesday by the state Department of Public Utility Control.The regulatory agency, in a proposed decision that must be made final by year's end, granted most of a rate increase sought by Connecticut Light & Power Co., which serves about 1 million customers in Connecticut. That is about 80 percent of the state's electricity users.The sharp increase is necessary, the DPUC said, because global spikes in fossil fuel prices have almost doubled the cost of power generation.It said the average electric customer should expect to pay $23.40 more a month on a bill that is now about $104. DPUC Chairman Donald Downes said power generation costs, which account for about two-thirds of the typical electric bill, are rising by more than 40 percent. Under the 2003 law deregulating the electric power industry, costs in that category are harder to restrain, Downes said.In contrast, he said, the portion of rates based on the cost of transmission "are directly regulated" by the DPUC."The increase in generation charges is vastly different from the traditional rate-setting proceedings in which the department has much more authority over the level of cost that can be recovered from ratepayers," the draft decision states................

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