The Public Service Commission granted an electric utility a rate increase through a new “adjustment approach,” using two moderate adjustments instead of fully litigating the companies’ proposed $188.4 million request. The total increase is capped at 4.25% and spread over two years, versus the 13% monthly bill increase the companies had sought. In return, the companies agreed not to file a general rate case before April 1, 2028, so customers should not face another increase until at least February 2029. The approach includes an inflation-based element tied to $1 billion in investments made in the state since 2022. The article calls it a temporary, reasonable experiment that eases the impact on ratepayers while allowing timely cost recovery.
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