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Hartford – Republicans unveiled several ways in which the state can begin to address the rate hike adjustment proposals that have recently been requested by Connecticut’s energy utilities. These rate hikes come at time when residents and businesses are facing record-setting levels of inflation.
You can watch the news conference by clicking here.
The proposals aim to:
- limit all future Power Purchase Agreements so that no contract can be for more than 100% over the wholesale electric market price
- provide relief to ratepayers by using unspent ARPA money to pay down the portion of the proposed Revenue Adjustment Mechanism adjustment that is attributed to arrearages as a result of the shut off moratorium
- redefine Class I renewable energy sources to include all forms of hydropower and all nuclear power to lower the cost of these energy sources and bring relief for ratepayers
- separate the Department of Energy and Environmental Protection (DEEP) and the Public Utilities Regulatory Authority (PURA)
- study ways to increase natural gas supply in the New England region
- study moving public policy charges off of ratepayer bills and into the budget
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