CONNECTICUT — Gov. Ned Lamont signed Connecticut’s electric utility reform bill into law Wednesday. The law will implement performance-based incentives for electric utilities instead of a flat-rate investment. The bill received near-unanimous support in the state House of Representatives and Senate.
“Utility companies provide a critical service that can quite literally mean life or death in certain situations, and ratepayers deserve a level of respect that puts them above profits,” Lamont said in a statement. “I congratulate Senator Needleman, Representative Arconti, Senator Formica, Representative Ferraro, and subject-matter experts and stakeholders across the state on sending a bill to my desk that sets Connecticut firmly on the path toward tying utility rates to utility companies’ performance.”
The bill was spurred by a few factors. Tropical Storm Isaias knocked out power to hundreds of thousands of electric customers across the state with some people not getting power back for a week or