-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PVU47jQeBApKp7EovZRk6AxelM+PksdRKG3cwsjuQhnxT8NRxkPq+pmYazy76hzB YmxvqUdEUDE39jEtcMGcpg== 0000072741-10-000131.txt : 20100618 0000072741-10-000131.hdr.sgml : 20100618 20100618153342 ACCESSION NUMBER: 0000072741-10-000131 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100614 ITEM INFORMATION: Other Events FILED AS OF DATE: 20100618 DATE AS OF CHANGE: 20100618 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CONNECTICUT LIGHT & POWER CO CENTRAL INDEX KEY: 0000023426 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 060303850 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-00404 FILM NUMBER: 10905812 BUSINESS ADDRESS: STREET 1: SELDEN STREET CITY: BERLIN STATE: CT ZIP: 06037-1616 BUSINESS PHONE: 8606655000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHEAST UTILITIES CENTRAL INDEX KEY: 0000072741 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 042147929 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05324 FILM NUMBER: 10905811 BUSINESS ADDRESS: STREET 1: ONE FEDERAL STREET STREET 2: BUILDING 111-4 CITY: SPRINGFIELD STATE: MA ZIP: 01105 BUSINESS PHONE: 8606655000 MAIL ADDRESS: STREET 1: 107 SELDEN ST CITY: BERLIN STATE: CT ZIP: 06037-1616 FORMER COMPANY: FORMER CONFORMED NAME: NORTHEAST UTILITIES SYSTEM DATE OF NAME CHANGE: 19961121 8-K 1 f8kdpucprelimdecisionc.htm PRELIMINARY DECISION ISSUED BY CT DPUC Converted by EDGARwiz

Commission

Registrant; State of Incorporation

I.R.S. Employer

File Number

Address; and Telephone Number

Identification No.

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-----------------------------------

--------------------

 

 

 

1-5324

NORTHEAST UTILITIES

04-2147929

 

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(a Massachusetts voluntary association)

 

 

One Federal Street, Building 111-4

 

 

< p style="MARGIN:0px; FONT-SIZE:11pt">Springfield, Massachusetts 01105

 

 

Telephone:  (413) 785-5871

 

 

 

 

0-00404

THE CONNECTICUT LIGHT AND POWER COMPANY

06-0303850

 

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(a Connecticut corporation)

 

 

107 Selden Street

 

 

Berlin, Connecticut  06037-1616

 

 

Telephone:  (860) 665-5000

&nb sp;


Not Applicable

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(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Section  8  Other Events


Item 8.01 Other Events.


On June 14, 2010, the Connecticut Department of Public Utility Control issued a Preliminary Decision (the “Preliminary D ecision”) in the electric distribution rate case proceeding for The Connecticut Light and Power Company (“CL&P”), which CL&P had filed on January 8, 2010.  CL&P is a wholly-owned subsidiary of Northeast Utilities.

 

In its application, CL&P had requested increases in distribution revenues of $133.4 million for the rate year (“RY”) commencing July 1, 2010 (later revised to $129 million), and $44.2 million for the RY beginning July 1, 2011 (later revised to $41.4 million).  The Preliminary Decision approved increases in distribution revenues of $61.1 million for 2010 and $37.7 million for 2011.  In accordance with CL&P’s application, the new 2010 rates will be effective July 1, 2010, but will be deferred until January 1, 2011.  CL&P expects that a decline in its stranded cost recoveries due to the final amortization of its rate reduction bonds in December 2010 will more than offset the impact of the approved increase.  The Preliminary Decision did not approve CL&P’s proposal to decouple earnings from sales and concluded that decoupling was effectively occurring through a more cost-based rate design that began in 2008.  The Preliminary Decision also denied a pension tracking proposal.


The Preliminary Decision approved annual construction expenditures of $310 million, $331 million and $314 million for 2010, 2011 and 2012, respectively, finding that each of the 35 initiatives in CL&P’s distribution capital spending program was necessary and reasonable to maintain system reliability and safety of the public and employees.  


In addition, the Preliminary Decision approved an authorized return on equity (“ ;ROE”) of 9.40%, the same as was authorized in CL&P’s previous rate order, instead of the 10.5% ROE CL&P had requested in the application.  The Preliminary Decision also authorized the capital structure requested by CL&P of 48.35% long term debt, 2.45% preferred stock, and 49.20% common equity, and an overall weighted cost of capital of 7.68%.


The Preliminary Decision also requires CL&P to continue its existing earnings sharing mechanism which provides for sharing of earning in excess of its allowed ROE equally between customers and shareholders.  


Written exceptions are due June 22nd, oral arguments will be held June 28th, and a final decision is due to be issued on June 30, 2010.


A cop y of the Preliminary Decision can be found on the “Rate Case Updates” link on the “Investors” page of Northeast Utilities’ website at www.nu.com.  For further information on this matter, reference is made to Northeast Utilities’ and CL&P’s combined Quarterly Report on Form 10-Q for the period ending March 31, 2010, under “Management’s Discussion and Analysis of Financial Condition and Results of Operation – Financial Condition and Business Analysis – Regulatory Developments and Rate Matters.”


[SIGNATURE PAGE TO FOLLOW]

SIGNATURE


Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrants have duly caused this r eport to be signed on their behalf by the undersigned hereunto duly authorized.



 

NORTHEAST UTILITIES

THE CONNECTICUT LIGHT AND POWER COMPANY

 (Registrants)

 




By:

/s/ JAY S. BUTH                                              

Name:

Jay S. Buth

Title:

Vice President –Accounting and Controller

 

 




Date:  June 18, 2010




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