In a move aimed at alleviating financial pressure on consumers, Connecticut regulators have announced a significant reduction in the revenue requests of two major CT gas companies. This decision is expected to bring some relief to residents facing high utility bills.
Connecticut’s Public Utilities Regulatory Authority (PURA) has made a decisive move to cut the revenue requests of Eversource Energy and Avangrid, two of the state’s largest gas providers. The decision comes after extensive reviews and public hearings, where consumers voiced concerns over escalating energy costs.
The Public Utilities Regulatory Authority (PURA) has set Southern Connecticut Gas’s (SCG) revenue requirement at $399.4 million, marking a decrease of $36.6 million from the current level. This represents an 8.4% reduction, which is expected to translate into savings of approximately $12-13 per month for Connecticut Natural Gas customers.
Attorney General William Tong expressed support for the decision, emphasizing the importance of balancing corporate needs with consumer protection. However, Consumer Counsel Claire Coleman suggested that the cuts could have been even more substantial to further benefit consumers.
According to PURA, the revised revenue requests will result in a modest decrease in monthly bills for residential customers. This adjustment reflects the authority’s commitment to balancing the financial needs of utility companies with consumer protection.
The decision is part of a broader initiative to ensure that energy costs remain manageable for Connecticut residents, especially during the colder months when heating demands increase.
“We are dedicated to ensuring that utility rates are fair and reasonable, and today’s decision is a step in that direction,”
Stated PURA’s chairperson, Marissa Gillett.
This decision by PURA is a positive step for Connecticut residents facing high utility bills. As the state continues to navigate economic challenges, such regulatory actions are crucial in providing financial relief to consumers. For more updates on local economic news, stay tuned to BuzzKue.com.
