II. STANDARD OF REVIEW
p. p. 10
udence of a management decision depends on good faith and reasonableness, judged at the time the decision is made." Connecticut Light & Power Co. v. Dept. of Public Utility Control, 216 Conn. at 645. Ultimately, however, rate setting requi...
AI summary The standard of review for rate-setting decisions emphasizes the need for good faith and reasonableness at the time of the decision. It also highlights the balancing of investor and consumer interests, with no constitutional requirement to use specific formulas in determining rates. The Authority may make pragmatic adjustments in the ratemaking process.