Eversource and Avangrid want to hold off on refunding ratepayers >$1B in transmission charges. (Utility Dive)
The context: On March 18, a FERC order cut the base ROE for New England’s transmission owners by a full percentage point to 9.57%, resolving four complaints stretching back to 2011. Eversource’s utilities face the biggest bill at a collective $880M, and Avangrid’s owe $203M.
Now, Eversource and Avangrid have asked FERC to stay the decision, arguing immediate payouts would wreak “immediate and irreparable harm” as they finance large capital programs. The next move? The companies will likely sue FERC to overturn the decision.