© 2025 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Eversource says its credit downgrade will cost CT customers

Eversource Energy
/
Flickr

Connecticut’s largest utility company, Eversource, has had its credit rating downgraded by the Standard and Poor’s agency.

Eversource said in a statement released on Tuesday that this means its customers in the state might have to pay higher rates.

On Monday, S&P downgraded Eversource’s subsidiaries — Connecticut Light and Power and Yankee Gas Services, to ‘A-’ from ‘A’ and to ‘BBB’ from ‘A-’, respectively.

The company said its Connecticut customers could pay as much as $270 million over the life of $3 billion in long-term loans for critical infrastructure investments it plans to borrow over the next five years.

Eversource blames Connecticut’s regulatory environment for its credit rating downgrade. But says it’s willing to engage constructively with state officials to achieve a more balanced environment.

State officials were not immediately available for comment.

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.