Conn. Utilities Reach Agreement On PPAs To Support Dominion Millstone Plant
Connecticut Governor Ned Lamont and Department of Energy and Environmental Protection (DEEP) Commissioner Katie Dykes announced that Dominion Energy and Connecticut’s two electric utility companies, Eversource and United Illuminating (UI), have reached an agreement to retain the Dominion-owned Millstone nuclear facility.
The 10-year PPA, which includes 9 million megawatt-hours per year, is subject to review by PURA. Pricing and related details were not released pending PURA's review
The enabling legislation for the PPA provides that, the net costs of any such agreement, including costs incurred by the electric distribution company under the agreement and reasonable costs incurred by the electric distribution company in connection with the agreement, shall be recovered on a timely basis through a nonbypassable fully reconciling component of electric rates for all customers of the electric distribution company. Further, the statute provides that, any net revenues from the sale of products purchased in accordance with long-term contracts shall be credited to customers through the same nonbypassable fully reconciling rate component for all customers of the contracting electric distribution company.