ES · 10-Q · 2026Q3 · Full report
AMI Deployment and Cost Recovery
EVERSOURCE ENERGY · 2026-11-06 · Importance 40 · Surprise 42
PURA rescinded CL&P’s interim AMI cost-recovery tariff framework on July 1, 2026, citing delayed implementation, the pending base distribution rate case, and legislation permitting securitization of AMI costs. CL&P filed AMI implementation and cost-recovery proposals with its rate case on July 14, 2026, seeking an accelerated deployment framework using proposed PBR capital funding and future securitization for incremental O&M and stranded legacy meter costs. CL&P witnesses subsequently estimated capital costs and operating expenses at $1.3 billion. PURA closed CL&P’s separate request to authorize an earlier physical deployment schedule and had not acted in the established docket; CL&P requested a determination by November 2026.
Key facts
- On July 14, 2026, CL&P submitted AMI implementation and cost-recovery proposals with its base distribution rate case, seeking a framework for accelerated deployment using a proposed PBR capital funding mechanism and future securitization for incremental O&M and stranded legacy meter costs.
- On July 1, 2026, PURA rescinded the previously approved December 2024 interim AMI cost-recovery tariff framework, citing delayed AMI implementation, CL&P’s impending base distribution rate proceeding and legislation permitting AMI cost securitization.
- CL&P witnesses filed updated AMI capital-cost and operating-expense estimates of $1.3 billion.
- PURA closed CL&P’s separate AMI deployment petition, directed the company to refile in an established docket, and had taken no action in that docket or otherwise indicated it would authorize deployment outside the rate case.
- CL&P requested a PURA determination on its AMI deployment request by November 2026.
- NSTAR Electric’s earnings were supported by higher earnings from its AMI capital tracking mechanism during the nine months ended September 30, 2026.
- NSTAR Electric’s increase in other delivery revenues was partly due to its AMI capital tracking mechanism and storm cost recovery mechanism.