Press Releases
12/16/2022
Connecticut’s Clean Energy Investments Helping to Reduce High Energy Costs
DEEP Applauds PURA Decision Fast-Tracking Return of Millstone Contract and Other Clean Energy Earnings to Customers
(HARTFORD)—Amid historically high electricity prices this winter, Connecticut’s investments in clean energy are helping to reduce the burden of high energy costs on state residents. Today, the Public Utilities Regulatory Authority (PURA) approved a plan supported by the Connecticut Department of Energy and Environmental Protection (DEEP) to fast-track the return of earnings through the long-term power contract with the Millstone Power Station to customers, part of a package of relief announced by Governor Ned Lamont last month under his Customer Relief Plan. PURA also approved the fast-tracked distribution of $8.7 million in Regional Greenhouse Gas Initiative (RGGI) proceeds that are statutorily directed to be returned to electricity customers, as bill credits from January to April.
With PURA’s approval today, proceeds from the long-term clean energy power contracts signed at the direction of the Lamont administration and the Connecticut General Assembly to help secure the future of the Millstone nuclear power plant and other carbon-free generation resources will be distributed to customers in the form of bill credits to all Eversource and United Illuminating customers starting January 1, 2023. This proposal will provide most Eversource residential customers with a monthly bill credit of $10.84 per month – approximately 12.5% of the average customer increase this winter – for the peak winter months starting January 1, 2023, and continuing through April. Most UI residential customers will receive a monthly bill credit of $16.76.
The $8.7 million in RGGI proceeds fast-tracked back to consumers is in addition to $29 million raised by the State this year through its participation in the multi-state RGGI program, which is being invested in the state’s energy efficiency programs, which provide further bill relief by helping households and businesses reduce their energy needs. An additional $9.8 million from RGGI to invest in new renewable energy sources that reduce the state’s reliance on fossil fuels was directed to the Connecticut Green Bank. Earlier this year, Governor Lamont also directed an additional $3.5 million in RGGI proceeds to increase Connecticut’s investment in low-income residential energy efficiency programs.
“Investing in clean energy is not only good for the environment, it’s also profitable for ratepayers. I’m pleased to see Connecticut’s investment in clean energy, through our long-term power contract with Millstone and other clean energy contracts, and our participation in RGGI, is providing consumer benefits as well as climate benefits,” said DEEP Commissioner Katie Dykes, who is currently serving her second term as Chair of the RGGI, Inc. Board of Directors. “As we head into a difficult winter, these investments provide both near-term bill relief to customers and continued growth in the clean energy solutions we need to get off the fossil fuel rollercoaster and address both price and climate volatility.”
If you need information on assistance available to help with heating bill costs this winter, go here: Heating Help - Connecticut Heat Assistance Programs- Twitter: @CTDEEPNews
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Contact
DEEP Communications
DEEP.communications@ct.gov
860-424-3110