Utility Dive•about 1 month ago
New England states urge FERC to advance $1.5B in ratepayer refunds
Key Takeaway
This dispute highlights the significant financial and regulatory risks in the New England power market, where long-standing litigation over past charges can lead to substantial ratepayer refunds or continued uncertainty for utilities and consumers.
AI Summary
- •New England states are urging FERC to release $1.5 billion in ratepayer refunds, currently held up by an appeal from Eversource and Avangrid.
- •The dispute, stemming from 15 years of litigation, involves potential overcharges that could impact electricity costs for large consumers.
- •FERC's decision on dismissing the utilities' request to stay the refund order is critical for the disbursement of these funds.
- •This situation underscores the significant regulatory and litigation risks in the power sector, particularly concerning cost recovery and rate-setting for developers and IPPs.
Topics
fercpolicy
Article Content
Governors and utility regulators asked the Federal Energy Regulatory Commission to dismiss a request by Eversource and Avangrid to stay the refund order while a court weighs an appeal. The dispute has already spawned 15 years of litigation.