Connecticut Senator’s Energy Plan Set to Cut Costs and Improve Reliability for Consumers

Connecticut residents are no strangers to high electricity costs, but a new bill co-authored by Senator Ryan Fazio aims to alleviate the financial burden on families while also improving energy reliability. According to a recent report by Ownerly, Connecticut residents already paid some of the highest amounts for electricity in the United States in 2022, second only to Hawaii. And earlier this year those prices went up even more as customers of both Eversource Energy and United Illuminating saw a doubling of electric supply rates, resulting in an average bill increase of 40%.

In response to these skyrocketing costs, Senator Fazio co-wrote Senate Bill 123, which seeks to reduce energy costs for Connecticut families while strengthening oversight of utilities. Fazio held a press conference to discuss the bill. The bill’s highlights include bringing all clean energy sources into the state’s Renewable Portfolio Standard, improving the Standard Service Procurement process, giving state regulators more discretion and flexibility in decoupling to protect ratepayers, and establishing utility rate case oversight to ensure that resolutions of rate cases and settlements are made in the best interest of ratepayers.

During a recent public hearing, Public Utilities Regulatory Authority Chair Marissa Gillett expressed support for the bill, stating that it “carries the potential for significant cost savings over time.”

Connecticut Attorney General William Tong also submitted written testimony in support of the bill, noting that it would increase visibility into the drivers of electric costs and make bills more understandable and transparent for consumers. A small business owner also voiced support for the bill, stating that energy bills are becoming more expensive than rent payments and that she may soon have to close her doors permanently if prices continue to rise.

Other supporters of the bill, including former Vermont State Representative and Energy & Technology Committee member Warren van Wyck and energy professional Meredith Angwin, testified that Senate Bill 123 will reduce costs, reduce reliance on fossil fuels, and increase the long-term reliability of the grid by giving equal treatment to all clean energy sources.

Senator Fazio urged residents to email him their thoughts on the bill at Ryan.Fazio@cga.ct.gov, emphasizing that it is not a political statement but a solution to create a path to energy affordability. With support from a range of individuals and organizations, Senate Bill 123 presents a promising opportunity to address the high electricity costs facing Connecticut families and businesses.