Connecticut’s two largest electric utilities have appealed millions of dollars in state-mandated profit reductions.
Last month, the state Public Utilities Regulatory Authority penalized Eversource and United Illuminating for their poor performance in responding to Tropical Storm Isaias last August. Regulators reduced Eversource's annual profits by about $31 million and United Illuminating’s by about $1.3 million.
The companies in court documents called the profit penalty “grossly excessive” and unconstitutional. Isaias left hundreds of thousands of Connecticut residents without power, some for more than a week.
Regulators are defending the penalties.
