Connecticut Governor Ned Lamont has proposed a suite of reforms to target excess utility profits and require companies to periodically seek permission to continue operating as exclusive monopolies. The proposal comes as the state’s largest electric utility, Eversource, has requested a double-digit rate increase.

Reform Details

The proposed reforms include requiring the state’s two investor-owned utilities, Eversource and United Illuminating, to have their franchise licenses reviewed and renewed on a regular basis by the state’s Public Utilities Regulatory Authority. Lamont also wants to introduce competition into the utility market by allowing new companies greater flexibility to develop microgrids attached to fuel cells and solar installations.

The governor’s plan also includes penalties against utilities that fail to deploy new technologies to help customers control costs, such as advanced ‘smart’ meters. Additionally, the state’s Office of Consumer Counsel would be given subpoena power to investigate suspected wrongdoing by utility companies.

Reaction to the Proposal

Eversource spokeswoman Jamie Ratliff said the company welcomed the governor’s proposal and offered to have him back for a tour and meeting with its employees. However, Republican gubernatorial nominee state Sen. Ryan Fazio criticized the proposal, saying that the ideas were not new and that the governor had not passed similar reforms in his previous eight years in office.

Tom Swan, the executive director of the Connecticut Citizens Action Group, praised the governor’s proposal, saying that it was a ‘damn good start’ in addressing the cost crisis facing the state’s utility customers.

Original reporting: The Connecticut Mirror — read the source article.