Eversource is asking Connecticut to authorize $700 million in borrowing to blunt losses from Tropical Storm Isaias and COVID-19.
Eversource stock fell, then rallied during a contentious hearing Monday. Its reputation with lawmakers is unlikely to rebound so easily.
When the lights went out, Eversource had just come off its best year.
The chair of the Public Utilities Regulatory Authority said Wednesday that Eversource badly underestimated the threat of Tropical Storm Isaias.
The number of Eversource customers disconnected for nonpayment has doubled in the past four years. Consumer advocates want to know why.
State energy officials recommended Thursday that the Millstone nuclear power station be allowed to offer further evidence of financial distress as part of a new procurement process that could enhance the profitability of Connecticut’s biggest source of zero-carbon electricity.
After blocking similar bills over two years, the House of Representatives voted 75 to 66 for final passage Thursday of a measure variously derided as a windfall for a major energy company and praised as a responsible first step toward stabilizing the finances of Connecticut’s last nuclear plant.
One of the non-fiscal elements of the tentative budget deal calls for the House Democratic leadership to allow a vote on a bill designed to improve the profitability of Connecticut’s last nuclear power plant, Millstone, the subject of an epic lobbying campaign by its owner, Dominion Energy.
Call it a sign of desperation or a mark of creativity. One of the unconventional revenue-raising schemes considered by legislators in pursuit of an overdue budget would have Connecticut extract millions of dollars from Dominion Energy in return for legislation boosting the profitability of electricity generated by the company’s Millstone nuclear power plant.
Katie Dykes, a key voice on energy policy as a deputy commissioner at the Department of Energy and Environmental Protection, was nominated Thursday by Gov. Dannel P. Malloy to serve as a commissioner of the Public Utilities Regulatory Authority.
Arthur H. House, who has had an up and down relationship with Gov. Dannel P. Malloy, stepped down Wednesday as chairman of the three-member Public Utilities Regulatory Authority to become the state’s first chief of cybersecurity.
The cable and satellite television industries are lining up against a proposal for a new State Civic Network that would provide unprecedented cable and streaming video access to the legislature, courts and other aspects of public life in Connecticut. Their customers would pay for the new network, though proponents say it could cost as little as 40 cents per subscriber.
Connecticut’s shared solar pilot program has already missed its first deadline and faces even more delays. In the meantime, arguments over how to pay for clean energy are bubbling up again.
Electric rates charged by Connecticut’s two utilities are headed for major reductions for the six months beginning July 1. Eversource Energy standard offer rates for residential customers will drop by more than one-third, and United Illuminating rates will drop nearly one-third.
The chairman of the Public Utilities Regulatory Authority said Tuesday that he and his colleagues saw no reason to accept Gov. Dannel P. Malloy’s public invitation to resign over the question of whether the authority was sufficiently independent and adequately staffed under the Malloy administration.