As the state embarks on a plan to expand its natural gas use, Connecticut Natural Gas announced it will request a rate increase to help upgrade its systems and comply with the state’s goals.
As a part of Gov. Dannel P. Malloy’s comprehensive energy strategy, state officials have requested the state’s gas companies build roughly 900 miles of natural gas main extensions, which is estimated to cost roughly $900 million. The intent of the plan is to give more Connecticut residents the option of using natural gas, which is seen as a cheaper and cleaner energy source than oil.
To meet the state’s request, Connecticut Natural Gas officials say they will need to adjust their rates to increase revenues by at least $19.9 million, a 6.3 percent increase.
Once a rate increase request is filed, the state’s Public Utilities Regulatory Authority will review the the request.
This is exactly what I have been talking about ever since the Governor announced his plan to add more access to natural gas. Yes there will be a large cost for the infrastructure but that will be nothing when they hook you up and then keep increasing the cost until it will be cheaper to go back to oil. This is typical of corporate thinking, keep the stockholders happy first than deal with the little user people. They should apply for good loan rates or bond for the installation and pay it back with the revenue they generate in from the users. I personally would like to hook up to natural gas because is a much more efficient source of energy than oil and cooking is much easier with gas than electric stoves.