Eversource Appeals Rejection of More Than $300 Million in Storm-Cost Interest

HARTFORD, Conn. — Eversource has appealed a Connecticut regulatory decision rejecting more than $300 million in interest associated with past storm expenses, renewing a dispute over which costs electricity customers should pay.

Attorney General William Tong announced October 15 that his office would defend the Public Utilities Regulatory Authority's decision. The dispute involves costs linked to storms occurring between 2018 and 2023.

The central issue is the interest accumulated before regulators approved recovery of those expenses. These financing charges are separate from the expenses of repairing storm damage and restoring electricity.

According to Tong's office, regulators should review costs and determine whether they were reasonable before allowing the utility to collect associated interest.

The office also cited concerns raised during the review about contractor expenses, documentation, and other charges. Those are the state's stated concerns in the regulatory dispute.

Eversource's financial filing provides the company's explanation. In its August quarterly report, the utility described the requested carrying charges as financing costs on storm expenses it had incurred but had not yet recovered. It disclosed a request for approximately $397 million in carrying costs, calculated through an anticipated June 2027 financing date. That figure covers a broader period than interest accumulated before the regulatory decision.

PURA did approve substantial storm-cost recovery. The Attorney General's July 29 announcement described approximately $861 million in approved storm expenses, with customer credits and other adjustments reducing the amount to be collected to approximately $668 million, plus applicable future carrying charges. The earlier $933 million figure concerned the draft decision.

Eversource's filing also acknowledged that PURA permitted carrying charges to begin accruing on approved, unrecovered costs from the date of its final decision. The dispute therefore concerns when financing charges may begin, alongside which expenses qualify for recovery.

For customers, the appeal raises a significant question about future electricity costs. Filing an appeal does not itself establish a new monthly charge, and the announcements reviewed do not provide a household bill increase attributable to the appeal.

This is a regulatory and legal dispute over utility cost recovery. The cited documents do not establish criminal corruption.

Sources: Sources: Connecticut Attorney General's announcements dated October 15 and July 29, 2026; Eversource's quarterly financial report filed August 3, 2026.