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PURA approves annual purchased-gas adjustment (PGA) deferred factors for three Connecticut LDCs
Summary
PURAs annual review of purchased-gas adjustment (PGA) filings approved deferred gas cost credits and adjustment factors for Connecticut Natural Gas (CNG), Southern Connecticut Gas (Southern), and Yankee Gas for the PGA period Sept. 2023Aug. 2024; the panel adopted staff recommendations after review of invoices and reconciliations.
The Public Utilities Regulatory Authority on Feb. 19 adopted the Authority staffs final decision in docket 24101 approving the annual purchased-gas adjustment (PGA) deferred factors for Connecticut Natural Gas (CNG), Southern Connecticut Gas (Southern) and Yankee Gas for the PGA period Sept. 2023 through Aug. 2024.
Authority staff described a two-part review process: (1) verification that supplier invoice amounts match the LDC spreadsheets used to compute deferred factors, and (2) review of the LDC reconciliation calculations to confirm gas costs, revenues and credits were accurate. After that review, staff recommended adoption of the proposed deferred factors and reconciliations.
Approved deferred factors and credits (for the subsequent 11-month recovery period Oct. 1, 2024 through Aug. 31, 2025) include: CNG total deferred gas cost: minus $3,944,348; deferred gas cost-factor credit: 1.5 cents per hundred cubic feet (CCF) (usage credit). Southern total deferred gas costs: minus $4,747,029; deferred gas cost-factor credit: 1.81 cents per CCF (credit). Yankee total deferred gas cost: minus $28,273,853. The bulk of Yankees credit (about $28,064,016) was for firm customers; staff reported a deferred-factor credit for firm customers of 0.0776 cents per CCF and for seasonal customers a total deferred cost of minus $209,834 and a factor credit of 0.0499 cents per CCF.
The Authority noted that if differences arise between customer charges and amounts paid by an LDC, the LDCs implement a deferred factor (surcharge or credit) during the subsequent 11-month reconciliation period; any costs assigned to distribution customers are treated as utility capital costs recoverable in a future rate case subject to prudence review. The panel adopted the decision and closed the docket.
