Connecticut Governor: $46.5 Million Deal With United Illuminating

Connecticut Governor: $46.5 Million Deal With United Illuminating

HARTFORD, CT (STL.News) Governor Ned Lamont and Attorney General William Tong today announced that the State of Connecticut has reached an agreement with United Illuminating (UI) to offer a $46.5 million COVID relief bill credit to decrease and stabilize electric rates into 2023.  Additionally, UI has committed to not change base distribution rates until at least May 2023 to provide further certainty for its customers.  The agreement is subject to review and approval by the Public Utilities Regulatory Authority (PURA).

The agreement was reached on behalf of the state by the Department of Energy and Environmental Protection, the Office of the Attorney General, the Office of Consumer Counsel, and the Office of Education, Outreach, and Enforcement at PURA.

UI contributed $5 million to support customers, in addition to an accelerated return of $41.55 million of accumulated savings from federal tax cuts to fully offset what would have been a five to eight percent increase in bills on May 1, 2021, due to federally-mandated transmission charges and the costs of the Millstone power purchase agreement.  PURA delayed implementation of that increase because of the public health and economic crisis caused by COVID-19.

“For families and businesses who have been struggling with high energy costs during the pandemic, this agreement promises more affordable, predictable rates,” Governor Lamont said. 

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Author: Publisher3