Attorney General Praises House Approval Of Bill Creating State Energy Authority, Urges Senate Passage

Connecticut Attorney General's Office

Press Release

Attorney General Praises House Approval Of Bill Creating State Energy Authority, Urges Senate Passage

May 15, 2009

"I am pleased by House approval of my longstanding proposal for a state energy authority to purchase power, as well as build, buy and back power plants. House passage is a huge first step toward relieving Connecticut ratepayers beset by the highest electricity prices in the continental United States.

"Connecticut residents and businesses have waited far too long -- I first proposed this bill more than three years ago -- for rate reductions they so desperately need and deserve.

"This bill provides remedies to begin repairing the damage done by federal regulators and grid operator ISO-New England whose ill-conceived, anti-competitive policies doubled state power rates. An electric authority potentially reduces power prices $1 billion, about 20 percent, a saving that consumers and companies struggling with recession desperately need.

"I will continue fighting for other measures -- a windfall profits refund, reform of ISO-New England and the Federal Energy Regulatory Commission (FERC) -- to reduce power prices.

"I commend house members and consumer advocates for their leadership on this critical issue."