Will Save Families Over $210 Per Year Immediately, More Over the Long Term

HARTFORD – Senate and House Republican Leaders detailed a comprehensive package of policy proposals to reduce the cost of electric bills and make energy more affordable over the long term.

The policies will reduce energy costs for CT families by over $362 million per year, saving the average household over $210 next year.  In the long run, the plan will drive down costs by even more and implement important ratepayer protections against utilities.

The package of legislative proposals will address two major goals:

  1. Make energy more affordable and reliable, by reducing costs immediately as well as expanding and encouraging reliable and affordable generation over the long term; and
  2. Ensure strong oversight of utility companies to protect the best interest of ratepayers.

“I was happy to join my colleagues today to discuss solutions to lower our energy costs,” Rep. Weir said. “As you may know, Connecticut has the most expensive energy costs in the lower 48 states and much of it can be traced back to bad policy decisions. This affects all residents and businesses in our state, many of whom are struggling to keep up with their energy bills. If our energy isn’t competitive, it will be difficult to attract and retain businesses to our state. High costs affect us all – Democrats and Republicans, so we aim to work in a bipartisan effort to create bipartisan solutions that help all residents of Connecticut.”

Connecticut ranks number one in the continental United States as the most expensive state for electricity (Source: Energy Information Administration via Ownerly October 2021 through September 2022). This January, our state utilities implemented shocking rate increases, raising everyone’s electric bills by at least 43 percent at a time when families already face historic inflation.

The proposals detailed by Senate and House Republicans include:

  • Moving charges resulting from public policy decisions from ratepayer bills to the state budget. (estimated savings: $362 million annually)
  • Bringing all clean energy sources into the state’s green energy strategy by adding nuclear power and all sources of hydro power to the state’s Renewable Portfolio Standard program.
  • Improving the Standard Service Procurement process by examining the differing ways CT’s large utilities, small municipal owned utilities, and other states all procure power.
  • Restoring independence to utility rate regulators by separating PURA from DEEP.
  • Giving PURA more discretion and flexibility in decoupling to protect ratepayers.
  • Establishing utility rate case oversight to ensure that resolutions of rate cases and settlements are made in the best interest of ratepayers and not for other political considerations.

To view the plan, click here.