According to the Greenwich Time, CT electric rates are among the highest in the country, here's why:
As a de-regulated state, CT utilities were forced to sell off their power plants. CT utilities are now incurring extra costs from a contract to purchase power from the Millstone nuclear power plant operated by Dominion Energy. "The original promise of greatly reduced prices (from deregulation) has not materialized," analysts with the American Public Power Association wrote in the report. "Rates in Connecticut, Massachusetts, and Rhode Island have increased at least double the national average."
CT's public policy decisions to purchase alternative (non-carbon) power, has increased costs for the utilities
Losses have been incurred during Covid-19 due to mandates to continue providing service to all customers despite non-payment. These losses are spread out to all rate payers.
Easy as 1-2-3: when politicians meddle in markets, prices go up.
Comments