The third-party electric supply company Verde Energy will reimburse customers, according to a settlement with the Connecticut Public Utilities Regulatory Authority.
The settlement, announced on Oct. 18 by the state Office of Consumer Counsel, directs Verde to pay $1.5 million to Eversource Energy and The United Illuminating Company to relieve Verde customers of high energy costs. It will reimburse customers, who joined Verde after May 2019, with a bill credit.
Verde will also not be able to market its company in Connecticut for 7 years.
This settlement resolves complaints against Verde that the company violated several states through false marketing practices. Consumer Counsel Claire Coleman said in a statement that she believes customers shouldn’t be lied to, especially when it can cost customers hundreds of dollars.
“Consumers seeking to save money on electric supply deserve to hear an honest sales pitch not misleading representations that cause them to potentially lose money,” Coleman said. “This settlement puts serious allegations to rest and helps reimburse those customers led astray by Verde Energy’s deceptive marketing”.
PURA accused Verde of implying to customers that they must choose an electricity supplier, misrepresenting the standard service rate for electricity, lying about their products being 100% green or renewable energy based, and overall engaging in unfair marketing practices, among other violations.
