Electric shock: Connecticut regulators approve rate hike. Bills to rise in September

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State regulators have approved an electric rate increase that will affect customers of Eversource and United Illuminating starting Sept. 1. The rate hike is expected to increase the typical consumer's bill by approximately $3 per month, according to Eversource. This latest increase comes on the heels of a significant rise in the public benefits portion of customers' bills last month. Electricity rates in Connecticut are adjusted twice a year, in January and July, based on competitive bidding processes and regional wholesale electricity market prices. Both companies say the extra money from the latest increase will cover the costs to install electric vehicle charging stations across the state. The total impact on individual customers' bills may vary depending on their energy usage. PURA says there are currently two motions to reopen and reconsider the decision. Statement from Eversource: "We appreciate PURA's decision on this important matter. Thanks to Governor Lamont, his administration brought together the energy companies and key stakeholders like the Office of the Attorney General, DEEP, PURA, and OCC to forge a path forward to continue the state's electric vehicle rebate program. Helping get more electric vehicles on the road is good for air quality and helping the state fight climate change, which we support. We will continue to advocate for regulatory policies which provide for stable and predictable rates for customers while also supporting Connecticut's public policy goals. We estimate that this increase for a typical residential customer using 700kWh a month will be an additional $3 per month from September 1 through April 30, 2025. " Statement from United Illuminating: "We are pleased with the outcome of yesterday's Revenue Adjustment Mechanism (RAM) decision, which acknowledges that Connecticut cannot continue delaying the funding of legislatively mandated public benefits programs collected on customers' electric bills instead of the State's General Fund. In this decision, PURA has clarified the standards of recovery for Connecticut EV incentive programs. This decision provides us with stable and predictable cost recovery mechanisms for these crucial programs, created by state policymakers to help meet Connecticut's clean energy goals. The public benefits costs associated with administering these programs are passed directly to consumers with no markup by the company. These incremental amounts approved by PURA's decision amount to approximately around $3.00 on the average bill and will be reflected in customer bills beginning next month and will go directly towards administering this essential program, supporting Connecticut's clean energy transition policy." "