Section 16-19a - Periodic review re gas, electric distribution and water companies' rates, services and performance. Approval of performance-based incentives and penalties(a)(1) The Public Utilities Regulatory Authority shall, at intervals of not more than four years from the last previous general rate hearing of each gas company, electric distribution company or water company having more than seventy-five thousand customers, conduct a complete review and investigation of the financial and operating records of each such company and hold a public hearing to determine whether the rates of each such company are unreasonably discriminatory or more or less than just, reasonable and adequate, or that the service furnished by such company is inadequate to or in excess of public necessity and convenience or that the rates do not conform to the principles and guidelines set forth in section 16-19e. In making such determination, the authority shall consider the gross and net earnings of such company since its last previous general rate hearing, its retained earnings, its actual and proposed capital expenditures, its advertising expenses, the dividends paid to its stockholders, the rate of return paid on its preferred stock, bonds, debentures and other obligations, its credit rating, and such other financial and operating information as the authority may deem pertinent.(2) The authority may conduct a general rate hearing in accordance with subsection (a) of section 16-19, in lieu of the periodic review and investigation proceedings required under subdivision (1) of this subsection. The authority may convene such general rate hearing at an interval of less than four years at the discretion of the authority, unless convening such general rate hearing at an interval of less than four years violates the terms of any final decision of the authority. Notwithstanding the provisions of section 16-243p, a gas company, electric distribution company or water company may recover reasonable and prudently incurred costs associated with a proceeding convened by the authority pursuant to this section, provided such company demonstrates to the satisfaction of the authority that it is not collecting rates and does not have an authorized rate of return which is or are more than just, reasonable and adequate, as determined by the authority.(b) In any proceeding required under subdivision (1) of subsection (a) of this section, or in any rate hearing pursuant to section 16-19, the authority shall consider the implementation of financial performance-based incentives and penalties and performance-based metrics. Notwithstanding subsection (a) of this section, if the authority approves such performance-based incentives and penalties for a particular company, the authority shall include in such approval a framework for periodic monitoring and review of the company's performance pursuant to metrics developed by the authority.Conn. Gen. Stat. § 16-19a
(P.A. 74-216, S. 3, 8; P.A. 75-486, S. 9, 69; P.A. 77-614, S. 162, 610; P.A. 80-482, S. 56, 348; P.A. 85-30, S. 1, 2; P.A. 96-42 , S. 1 , 2 ; P.A. 98-28 , S. 90 , 117 ; P.A. 00-17 , S. 2 ; P.A. 11-80 , S. 1 , 26 ; P.A. 14-134 , S. 51 .)
Amended by P.A. 23-0102,S. 8 of the Connecticut Acts of the 2023 Regular Session, eff. 6/29/2023.Amended by P.A. 20-0005, S. 3 of the Connecticut Acts of the 2020 Third Special Session, eff. 11/1/2020.Amended by P.A. 14-0134, S. 51 of the Connecticut Acts of the 2014 Regular Session, eff. 6/6/2014.Amended by P.A. 11-0080, S. 26 of the the 2011 Regular Session, eff. 7/1/2011. Cited. 219 Conn. 121 .
See Sec. 16-243a(d) re cogeneration generating capacity. See Sec. 16a-49 re conservation and load management.