Sweeping Changes to Electric Rate Adjustment Process
December 7, 2020Back in the summer months, utility company customers across Connecticut saw exorbitant rate increases in their monthly bills - we vowed to get answers and petitioned state regulators to investigate.
Since then, we have made some progress and, while there is still much work ahead of us, I would like to give you an update on the results of our efforts, including decisions of the investigation conducted by the Public Utilities Regulatory Authority (PURA) that were just released.
![](http://housedems.ct.gov/sites/default/files/inline-images/PURA%20decisions.png)
Here’s what the results of the State regulators investigation mean to Connecticut ratepayers:
- The current approach to administrative rate adjustments is not in the public interest and inconsistent with the intent of the authorizing statutes.
- This investigation leads to a comprehensive overhaul of Connecticut’s rate adjustment process that benefits customers by setting rates on actual costs instead of inaccurate forecasts:
- Greater transparency!
- Shifts risk to utility shareholders!
- Freeze on changes to the utilities’ delivery charges through April!
- Greater transparency!
- Eversource delivery rates must remain at the June 2020 level until at least May 2021. If utilities over-collect from customers over the course of a year, the money will be returned in the next year (with interest).
Please know, I will continue to monitor this process closely and will keep you up to speed with any new developments.