FERC Slashes Transmission Owner Returns, Potential $900M Refunds

0:00Federal regulators just dropped a big ruling, slashing the return on equity for new England electric transmission owners from 11.14 percent down to 9.57 percent. This change applies retroactively to periods starting from late 2011 through 2012 and from 2014. Onward, consumer advocates predicted could unlock around $900 million in refunds for ratepayers across the region. The fight kicked off back in 2011 when Massachusetts attorneys general challenged the high returns utilities we're passing on to. Customers. Over more than a decade, advocates from all six New England states joined forces pushing the Federal Energy Regulatory Commission until they finally ruled on March 19th. Ratepayers are cheering this as a major win, with groups like consumer advocates of New England estimating over $100 million in yearly. Investigations for 7.2 million customers. But ever source energy, Connecticut's biggest utility is firing back hard, calling the decision

1:04arbitrary and already filing to appeal in court while seeking a pause. Ever source says the lower rate will hit their after-tax earnings by about $70 million in 2026, dropping their full year. Guidance to between $4.57 and $4.72 per share. Their stock dips slightly to $69.13 midweek, an analyst warn of potential equity raises that could dilute shares. Further, refunds details and timelines of still being worked out. But advocates plan to pressure regulators for quick action. This could reshape how utilities invest in grid upgrades while keeping bills and check for years ahead. From your city, powered by AI, this is Hartford News today.