Posted on January 20, 2023
Will Save Families Over $210 Per Year Immediately, More Over the Long Term
HARTFORD – On Tuesday, Rep. Dave Yaccarino (R-87) joined Senate and House Republican Leaders to detail 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:
- 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
- Ensure strong oversight of utility companies to protect the best interest of ratepayers.
[View the plan here]
Connecticut is one of the most unaffordable states to live in, embodied by its 2nd-highest in the nation utility costs. This proposal attacks the issue head-on and lays a framework for how the legislature can make serious progress reducing the financial burden on ratepayers across the state in the short-term, with additional long-term savings,” Rep. Yaccarino (R-North Haven) said.
“Wagging a finger at utility companies to grandstand for ratepayers when their frustration understandably boils over is a singular path that produces very little. We instead need an integrated approach that not only introduces systemic change to reduce monthly bills, but one that also examines to what extent residents’ financial stress is fueled by energy policy and goals adopted by the legislature and state agency bureaucrats,” said House Republican Leader Vincent Candelora (R-North Branford).
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.