-----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, EWXS7AZROxuCDjCsgtA8W1Q5g9feW7B/q/FHbOJsf55jyvT2XlZr5WMnB6xGOdJ7 IJp7oDuFabKnO6YEia51fQ== 0000072741-10-000143.txt : 20100729 0000072741-10-000143.hdr.sgml : 20100729 20100729111555 ACCESSION NUMBER: 0000072741-10-000143 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100728 ITEM INFORMATION: Other Events FILED AS OF DATE: 20100729 DATE AS OF CHANGE: 20100729 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: 10976655 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: 10976654 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 f8k072910dpucreconsideration.htm CT DPUC REQUEST TO RECONSIDER 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

0 4-2147929

 

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

 

 

(a Massachusetts voluntary association)

 

 

One Fe deral Street, Building 111-4

 

 

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  06037-1 616

 

 

Telephone:  (860) 665-5000

 


Not Applicable

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

(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))



 


 

Item 8.01 Other Events


On July 28, 2010, the Connecticut Department of Public Utility Control (DPUC) granted a request filed by The Connecticut Light and Power Company (CL&P) for reconsideration of its decision in CL&P’s electric distribution rate case proceeding not to allow CL&P to create a regulatory asset associated with new healthcare legislation adopted in 2010.  In its July 28 decision, the DPUC reversed its position from its rate decision on June 30, 2010 (Rate Decision) and allowed the creation of regulatory asset by CL&P, subject to review in its next rate case.  CL&P is a wholly-owned subsidiary of Northeast Utilities (NU).  


In the Rate Decision, the DPUC had disall owed the establishment by CL&P of an $8.2 million regulatory asset, which related to its share of future tax benefits lost as a result of a provision in the Patient Protection and Affordable Care Act of 2010 that eliminated the tax deductibility of certain post-retirement benefits other than pensions.  NU had deferred $14.6 million of such impacts on an after-tax consolidated basis in the first quarter of 2010, expecting that they would be recovered in future rates across all of its operating jurisdictions.  


As a result of the Rate Decision, and as we had previously reported in our Current Report on Form 8-K filed July 15, 2010, NU had intended to take an after-tax charge of $9.8 million ($0.06 per share) in the second quarter of 2010. This amount represents the aggregate impact of the deferred amounts for CL&P and Yankee Gas Service Company (Yankee Gas), another wholly-owned subsidiary of NU subject to the regulation of the DPUC.  As a result of the July 28 decision, NU has concluded that these costs are still probable of recovery and have maintained these amounts as regulatory assets as of June 30, 2010. Thus no charge will be taken in the second quarter of 2010.


A copy of the July 28 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 NU’s and CL&P’s combined Quarterly Report on Form 10-Q for the period ended March 31, 2010, under “Management’s Discussion and Analysis of Financial Condition and Results of O peration – Overview” and “- Financial Condition and Business Analysis – Regulatory Developments and Rate Matters” and their combined Current Reports on Form 8-K filed on June 18, 2010 and July 15, 2010.


[SIGNATURE PAGE TO FOLLOW]





SIGNATURE


Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrants have duly caused this report 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:  July 29, 2010


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