At 6 p.m. Tuesday at New London Town Hall, Connecticut State Regulators will decide whether to give another rate increase to Eversource (C L & P). Last November, they were granted a one-cent increase on our electric rate. The amount sounds small but is actually a 10 percent increase in your electric cost. On Tuesday, they will ask for another $154.5 million dollars for services which they claim will only cost about $6 more a month.
Eversource is a private company, and any generators or other equipment paid for with this money becomes the property of Eversource and its stock holders. About two years ago, their monthly service charge was about a third of the electric bill, but now the service fee is often larger than the cost of electric used. Imagine when buying gas, if the price increases for each gallon purchased. I believe a fixed service rate of 50 percent of the electric used should be put into effect and any costs for Eversurce equipment etc., be paid for by issuing bonds.
Robert A Manfredi, Uncasville