Eversource escalated its long battle with Connecticut’s top utilities regulator Thursday by telling stock analysts on an earnings call it will cut spending on capital projects related to the reliability of its electric grid in the state by $500 million over the next five years.
The statements by the company’s chief executive, Joseph R. Nolan, and chief financial officer, John M. Moreira, come less than two weeks after Eversource announced that “unreasonable, arbitrary decisions” by regulators were prompting an end to a $50 million incentive program to purchasers of electric vehicles.
Eversource complains that the Public Utilities Regulatory Authority has been slow to approve the recovery of $635 million in storm costs incurred from 2018 through 2021, as well as $400 million in uncollected bills from ratepayers. It also is asking the Supreme Court to review a rate…
