Connecticut Attorney General's Office

Press Release

Attorney General Seeks DPUC Investigation Of Excess SCG Profits

December 1, 2010

            Attorney General Richard Blumenthal is asking the Department of Public Utility Control (DPUC) to investigate reportedly excess profits at Southern Connecticut Gas (SCG) and impose a rate reduction if confirmed.

            The DPUC capped SCG’s profits at 10 percent. The company’s most recent earnings report shows earnings of 11.35 percent.

            “The DPUC should investigate reportedly excess SCG profits and, if confirmed, reduce rates,” Blumenthal said. “A 10 percent profit is especially generous, a return most businesses can only dream of during this time of deep economic distress. Excess profits would be unacceptable, adding to the staggering burden on small businesses and individuals seeking to stay solvent. SGC must keep rates reasonable, tightening its belt like its customers.

            “I will continue fighting for fair and affordable utility rates that encourage job growth instead of stifle it.”