FERC won’t freeze the $1.5B in customer refunds owed by New England transmission owners. (Utility Dive)
The ruling: FERC rejected a joint request from Eversource, Avangrid, and other New England TOs to delay a $1.5B retroactive refund order. This stemmed from a 15-year legal battle over base returns on equity.
The commission sided with state advocates and upheld a firm customer repayment deadline of May 20, 2027. Eversource faces a hit up to $932M, and Avangrid owes $203M.
Worth watching: The utilities are waiting on a parallel appeal with the DC Circuit. If they win, they noted that they’d hit ratepayers with surcharges to claw all that cash back.