Jepsen calls for more penalties on CL&P for 2011 storm failures

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Attorney General George Jepsen filed a petition with the Public Utility Regulatory Authority calling for more penalties against Connecticut Light & Power for failing to disclose emails and other notes related to investigations into the company’ power restoration efforts after Hurricane Irene and an October Nor’easter in 2011. The AG said during an investigation into […] [Read More]
Categories: Energy

CL&P says storms will cost ratepayers $414 million

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Connecticut Light & Power Co. wants to collect $414 million in storm-related costs from customers over the course of six years. In 2011 and 2012, the state was by several large storms which knocked down overhead wires and left millions of people on the East Coast in the dark. The biggest hit to the state […] [Read More]
Categories: Energy
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Call for Conn. companies for Germany and Paris shows

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The International Affairs office for the Connecticut Department of Economic and Community Development says there is government funding to help state businesses attend an energy conference in Germany and the Paris Airshow this year. The State Trade and Export Promotion program provides funding to help small businesses increase their exports and the shows in Hanover, […] [Read More]

While electricity bills are falling, UI looks for increase in 2014

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United Illuminating announced on Friday it is looking for a rate increase for 2014, which the company says will not actually increase most customers’ bills. The New Haven-based electric utility that serves the greater New Haven and Bridgeport areas, is seeking to increase its distribution rate to bring in $67 million in additional revenue in […] [Read More]

CL&P issuing $400 million in bonds

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Connecticut Light & Power said Tuesday in a U.S. Securities and Exchange Commission filing that it would offer $400 million in series A bonds as part of a supplement to a previous offering made in 2010. The bonds will mature in January of 2023. The company estimates it will net $396.8 million on the deal […] [Read More]
Categories: Credit markets, Energy
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CEMA-later ICPA: Oil dealers’ association changes name

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The Independent Connecticut Petroleum Association has officially changed its name to the Connecticut Energy Marketing Association, complete with a new website, ctema.com. Around since 1950, ICPA, pronounced Ick-Pa, has been an advocate for the state’s oil heat dealers and independent gasoline stations. The change in name reflects a change in the sector, as oil heat […] [Read More]
Categories: Energy

GE joins consortium to buy Iberdrola’s wind biz

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General Electric said Wednesday it is part of the consortium that is buying 32 operating wind farms in France from the Spanish company Iberdrola. MEAG — the asset management arm of Munich Re and ERGO — and EDF Energies Nouvelles joined GE Energy Financial Services in the 350 million euro, or about $463 million, deal. […] [Read More]
Categories: Energy, GE, Wall Street

Danbury-based FuelCell Energy gets pop after Bridgeport deal

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FuelCell Energy, the maker of stationary fuel cell plants, got an 8 percent lift in share price Friday morning after announcing a deal to sell its 14.9 megawatt plant project in Bridgeport to Dominion. The sale of the plant was announced this morning and Connecticut Light and Power has signed on to buy the power. […] [Read More]
Categories: Energy, Wall Street

Connecticut grabs $5 million in Constellation settlement

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Connecticut officials said Thursday electricity customers in the state will begin seeing a credit on their bills in January as funds from an energy market manipulation settlement get released. In March, Constellation Energy Commodities Group settled allegations it manipulated Northeast electricity prices between 2007 and 2008. Constellation agreed to pay $245 million to settle the […] [Read More]

Connecticut Power Struggle

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Under the surface, like an electric distribution system, there’s a lot going on in the power struggle between the State of Connecticut and Northeast Utilities over layoff notifications. At first glance, it seems like a purely legal tiff over when NU has to notify Connecticut of layoffs associated with its merger with NSTAR. Back in […] [Read More]