Today, State Senator Norm Needleman (D-Essex), Senate Chair of the Energy and Technology Committee, gave his support to the announcement that the Public Utilities Regulatory Authority rejected a proposed rate hike requested by United Illuminating. UI submitted an application earlier this year seeking a three-year rate plan that would cost ratepayers $131 million over those three years; PURA instead approved an amount representing an increase of less than $2 million from the current approved revenue requirement.
“I’m highly supportive of this decision by PURA to reject this rate increase after review,” said Sen. Needleman. “Ratepayers deserve transparency in the services they receive, and PURA found that UI’s proposal featured significant errors in a cost-of-service study, and found performance deficiencies that influenced their decision-making. This is especially promising because it will align with PURA’s new regulatory goals, which are intended to ensure multi-year rate plans remain effective in providing efficient, affordable service. The approved one-year rate plan will save money for ratepayers at a time when electric costs remain high; I’m hopeful that this decision bodes well for the strength of electric utility regulation in our state.”