CONNECTICUT, USA — The Connecticut Public Utilities Regulatory Authority (PURA) held a virtual public meeting regarding the Eversource rate hikes.
This meeting is not regarding Connecticut electric companies and their response to Tropical Storm Isaias, but rather about rate increases that kicked in before the storm. However, opening testimony from Governor Ned Lamont and Senator Richard Blumenthal saw criticism for the electric company's lack of response following Isaias.
Both Sen. Blumenthal and Gov. Lamont indicate that the company was "too big" with Gov. Lamont calling Eversource an accidental monopoly.
Sen. Blumenthal supported the idea that the electric utilities should be broken up into municipalities, pointing to Norwich as an example. Norwich Public Utilities managed to get their smaller number of customers up days before Eversource and UI could complete their restoration efforts. Sen. Blumenthal said that public utilities should be a Connecticut-based utility with public ownership.
Sen. Blumenthal and Gov. Lamont also fronted the notion that there be a shift from high rates of return no matter the performance. Gov. Lamont cited the United Kingdom who had put in place strict performance parameters and when companies can't perform to those standards, they are punished.
Both officials pointed to the millions of dollars of profit Eversource had made, and indicated that the executives receiving a large portion of that profit was unacceptable.
Sen. Blumenthal said that now was the time for aggressive consumer protection.
Eversource came under fire in late July, as customers began to notice significant increases on their energy bill for the month. Many criticized the company for increasing their bills during the economic hardship caused by the COVID-19 pandemic. The energy company argued these hikes were agreed upon months ago.
On July 31, PURA announced they suspended the rate hike and demanded the rates return to the ones in June. Sen. Blumenthal called on PURA to freeze the rates at that level.
The Public Utilities Regulatory Authority also granted Attorney General William Tong's motion to have a "trial-like" proceeding to hold companies United Illuminating and Eversource accountable for their response to the power outages after Tropical Storm Isaias. Thousands of people were without power for days after the storm.
A class-action lawsuit was also filed by Eversource customers against the company in early August.
