Looney, Duff, Needleman Release Statement Following Eversource Rate Increase Request

“Eversource profits are soaring. Eversource executives are getting huge bumps in pay. And they’re asking Connecticut ratepayers to foot the bill. At a time when the Trump administration’s tariffs, oil price hikes and push for AI and data centers are putting more pressure on our grid and spurring national rate shocks, at a time when we finally see the start of progress in pulling Connecticut electric rates back down, Eversource is asking for more.

Why wouldn’t they? When do they not?

It’s not lost on us that the company’s own statement seems to dangle the state approving its storm securitization funds, which would increase consumer costs, in reducing its proposal – another attempt to threaten the state so the company gets what it wants, and a no-win situation for Connecticut households struggling to make ends meet. Yet again, it’s Wall Street vs. Main Street, and Eversource again hopes to elevate shareholders over ratepayers. Connecticut ratepayers can’t afford this. We encourage PURA to be diligent and skeptical in examining every aspect of this request.”

– Senate President Pro Tempore Martin M. Looney (D-New Haven), Senate Majority Leader Bob Duff (D-Norwalk), and State Senator Norm Needleman (D-Essex) on Eversource’s May 20 rate increase proposal announcement.

FOR IMMEDIATE RELEASE

Contact: Kevin Coughlin | kevin.coughlin@cga.ct.gov | 203-710-0193