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Stakeholders split on using Millstone PPA, dynamic purchases and who bears reconciliation risk
Summary
At PURA's technical meeting on Docket 12O602REO4, ratepayer analysts urged using the Millstone PPA to reduce volatility while utilities warned dynamic market purchases shift price and load risk to captive customers; participants debated proxy pricing, reconciliation mechanics, and a proposed volatility mitigation fund.
A key flashpoint at PURA’s technical meeting was whether to use existing power purchase agreements—most notably the Millstone nuclear PPA—or to expand dynamic market purchases as the statute contemplates.
Mike Webb, an independent researcher and ratepayer presenter, argued the current six‑month full‑requirement procurement left Connecticut exposed to the 2022 price spike and presented simulations implying substantial consumer savings if…
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