© 2024 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
89.9 FM is currently running on reduced power. 89.9 HD1 and HD2 are off the air. While we work to fix the issue, we recommend downloading the WSHU app.

Connecticut officials vow to hold Eversource accountable after company reports huge profits

An Eversource van stopped at a road blocked by fallen trees on Aug. 7, 2020, a few days after Tropical Storm Isaias.
Yehyun Kim
/
CT Mirror
An Eversource van stopped at a road blocked by fallen trees on Aug. 7, 2020, a few days after Tropical Storm Isaias.

Connecticut Governor Ned Lamont and state lawmakers vow to hold Eversource more accountable to ratepayers. That’s after the state’s largest utility announced a $1.4 billion profit for 2022 and the doubling of its CEO’s pay.

Lamont said Eversource’s profits come at a time Connecticut consumers are paying some of the highest energy rates in the country.

That’s why the state’s Public Utility Regulatory Authority chaired by Marissa Gillett will hold Eversource more accountable for the services it renders.

“We are going to put in place performance-based regulations, so they only get paid based upon performance," Lamont said. "And I think Marissa is looking forward to a rate hearing sometime in the next year or so where we’ll be able to take a hard look at this. Those are pretty big profits."

State legislative leaders have said they will also increase accountability and oversight of Eversource and all utility companies to ensure that customers are put before profits.

As WSHU Public Radio’s award-winning senior political reporter, Ebong Udoma draws on his extensive tenure to delve deep into state politics during a major election year.