A Texas electric company is fined $500k and banned from doing business in Connecticut for six years
Texas-based electricity supplier Clearview has been fined half a million dollars and banned from trading for six years in Connecticut after it was found violating state electric supplier marketing laws.
Marissa Gillett is the Chair of Connecticut’s Public Utilities Regulatory Authority and said residential customers need to be careful when shopping around for better electricity rates from out-of-state suppliers.
“Make sure that you are paying attention to the fine print, that you know the terms of the offer. Are you being offered a teaser rate that looks better than the standard service rate for two months then automatically renews at a higher rate? So it is really a case that the devils in the details,” Gillett said.
The settlement with Clearview came just two months after PURA issued a Notice of Violation and Assessment of Civil Penalty against the company after receiving multiple complaints from Connecticut residents.
Under new state laws, the money from the half a million dollar fine will go back to customers who were affected and not into the State’s general fund.