Connecticut’s consumer advocates are pushing back against natural gas rate increases sought by one of the state’s largest utilities, which comes as the company fights state regulators’ rejection of an electric rate hike in court.
In filings to the state Public Utilities Regulatory Authority, Southern Connecticut Natural Gas and Connecticut Natural Gas request approval to increase their average gas distribution rates by 5-9% during the winter season.
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Connecticut’s natural gas customers have been “overcharged” more than $8 million, according to Attorney General William Tong, who calls on utility regulators to order consumer rebates.
Tong said a review of the most recent earnings report by Connecticut Natural Gas, which serves about 184,000 customers, shows the company has been earning 177 basis points above its authorized return on equity of 9.3%. He said that based on the report, the company’s rates “appear well beyond what is necessary to cover their expenses.”
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