State, UI Reach Deal for Electric Rate StabilityMarch 11, 2021
I am pleased to pass along some great news for Stratford ratepayers.
Spurred on by the passage of the Take Back Our Grid Act in the General Assembly last year, the State of Connecticut announced a deal with United Illuminating to stabilize the electric rates for the next two years.
According to the joint announcement from Governor Lamont, Attorney General Tong, and UI, the agreement (which is subject to approval by the Public Utilities Regulatory Authority) will do the following:
- Offer a $46.5 million COVID Relief Bill Credit to decrease and stabilize electric rates into 2023
- Prevent a change of base distribution rates by UI until at least May 2023
The terms of the agreement also say that the COVID Relief Bill Credit will appear as a line item on bills from May 1, 2021 through December 22, 2022, and will be calculated based on usage.
To read more about this announcement, click here.