August 9, 2024

Rep. Foncello Joins Republican Colleagues in Call for Special Session on Electric Rates

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HARTFORD, CT — State Representative Martin Foncello (R-Brookfield) joined his Republicans colleagues on Thursday in offering solutions to tackle perpetually high electric rates in Connecticut. They called for a special legislative session and said it’s time for Governor Lamont to take a more active role in bringing together lawmakers, utility companies, and government regulators to develop a reasonable state strategy on energy.

“If we go into Special Session there are short-term proposals that we can act on that will ease some of the sticker shock we’re all feeling with these latest Eversource bills, including reducing the Budget Reserve Fund maximum threshold back down to 15% from the 18% it was just raised to,” said Foncello. “We’re also proposing to strike language in the 2024 budget stabilization bill and allow ARPA funds to cover the cost of moratorium payments instead of putting it toward the FY 25 budget deficit. The Rainy Day Fund can cover any projected deficit in FY 25.”

Connecticut Republicans held a news conference at the Legislative Office Building, where they outlined proposals to provide rate relief to customers who for years have been frustrated by costly bills that they say are squeezing their personal finances. The proposals mirror those offered by the House and Senate Republicans in February, when they urged action as they reminded Democrats about the financial pressure on constituents caused by high electric bills.

“I received the same increase everyone else did and hopefully these ideas will get the conversation started on how we can reduce the increases we all receive,” added Foncello.

The proposals outlined Thursday include:

Limit all future Power Purchase Agreements so that no contract can be for more than 150% over the wholesale electric market price.
Study moving public policy charges off ratepayer bills and into the budget.
Redefine Class I renewable energy sources to include all forms of hydropower and all nuclear power to lower the cost of these energy sources.
Separate the Department of Energy and Environmental Protection (DEEP) and the Public Utilities Regulatory Authority (PURA)
Cover the portion of rate increases associated the moratorium on electric service shutoffs by reallocating remaining end-of-year American Rescue Plan Act (ARPA) funds, and examining budgetary options that could make available as much as $1 billion.

One of the Republicans passed-over proposals from February could have blunted the increase ratepayers are seeing now — using ARPA funds to cover the cost tied to a roughly four-year state-imposed moratorium on electric service shutoffs. The decision not to vote on this proposal left ratepayers covering the bills of those who didn’t pay theirs.