Rare snowstorm causes 830,000 Connecticut Light & Power customers to lose power on Oct. 29; company to spend as much as US$100M for clean-up, restoration work related to outage
Graziela Medina Shepnick
HARTFORD, Connecticut
,
November 3, 2011
(Associated Press)
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An executive of Connecticut Light & Power says the utility expects to spend as much as $100 million for clean-up and restoration work related to last weekend's rare October snowstorm.
Jeffrey D. Butler, president and chief operating officer of the Berlin-based utility, said Thursday that the cost will be on top of a $100 million charge to clean up after the remnants of Hurricane Irene in August.
Parent company Northeast Utilities told investor analysts in September that ratepayers, not investors, will pay for the Irene-related cleanup. It's standard in the industry for ratepayers to pay operating costs such as electrical restoration.
The utility reported on its website Thursday that 432,712 customers were without power. That's down by less than half from the peak of 830,000 when the storm struck Saturday.
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