The Public Utilities Regulatory Authority (PURA) has ordered two gas companies in Connecticut to lower their rates.
Monday's decision means Connecticut Natural Gas (CNG) customers will see savings of about $7 to $8 a month.
Southern Connecticut Gas (SCG) customers will save about $3.50 to $4 a month.
It comes after a report revealed that CNG over-collected $8 million from Connecticut families and businesses. Half of that money was returned to rate payers to offset winter heating bills, but the other half was distributed to shareholders, according to Attorney General William Tong.
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“This is finally a bit of good news for Connecticut families desperately in need of relief from unaffordable energy costs...[CNG's] rate demands were packed with inflated profits and unnecessary expenses. PURA was absolutely right to slash their revenue," Tong said.
Consumer Counsel Claire Coleman said SCG proposed a $43 million rate increase, which would have meant an increase of about $13.20 per month for customers. CNG proposed a $19.8 million rate increase, which would have increased customers' bills about $6.60 a month.
“Though PURA’s decision does not implement all the reductions my team proposed, it certainly reflects a healthy and transparent regulatory process here in Connecticut,” Coleman said.
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Both CNG and SNG are owned by Avangrid. The Senate GOP emphasized that working and middle class families are barely scraping by in the state, and every dollar helps.
