Coalition warns utility under‑collection could push Eversource proxy rate toward 15¢; PUC methodology under discussion

CPCNH staff told the committee that investor‑owned utilities have under‑collected wholesale power costs over recent rate periods and that those deficits — described in presentation slides as on the order of tens of millions — are being reconciled through proxy rate methodology directed by the Public Utilities Commission. The presenter said Eversource's reconciliation through May is "closer to $38 to $39,000,000," and staff cautioned that proxy methods and potential amortization of those balances could produce additional upward pressure on customer rates.

During the meeting staff noted the PUC‑ordered proxy methodology and recent legislation that limits recovery except in "extraordinary circumstances," which the presenter called a step forward but one containing a potentially broad exception. "They're proposing a rate of 14.09¢," the CPCNH director said of Eversource's filing; staff added an alternate approach that would rely on supplier bids might yield a roughly 15¢ figure. Committee members asked how much more would be added if utilities were allowed to amortize larger portions of their balances; staff said full recovery of the identified $22 million tranche would roughly double the reconciliation adder from about 0.9¢ to about 1.8¢ in a subsequent period.