The state Public Utilities Regulatory Authority issued a scathing final decision following an eight-month investigation of the utilities’ preparation before the storm and response following it. Regulators rebuked Eversource for numerous failures, with “inactions or deficiencies” creating a significant risk to public safety. Regulators said they’re prepared in a future proceeding to impose an indefinite reduction in the utilities’ return on equity, a measure of profitability. The dollar amount was not immediately available. Regulators consider reductions in equity as incentives for utilities to improve their performance, Gillett said. Regulators will separately consider penalties as part of a “notice of violation” to be issued next week for the utilities’ “subpar performance,” PURA said. As many as 1 million customers were without power for days following the storm, leading to widespread anger among ratepayers and elected officials.
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