On June 20 Connecticut Attorney General William Tong filed briefs with the Public Utilities Regulatory Authority seeking to decrease rates on gas charged by both Connecticut Natural Gas and Southern Connecticut Natural Gas.
In a press release, Tong noted that in a 2023 earnings report Connecticut Natural Gas informed shareholders that they had over-collected from customers by as much as $8 million. While half of those funds were returned to customers in the form of winter heating bill relief, $4 million was distributed to shareholders.
Tong described this as undercutting the argument made by both natural gas companies when making their case to PURA earlier this year for a rate increase.
“CNG has over-collected millions of dollars from Connecticut ratepayers, and now they want millions more. That’s a non-starter. My office has scrutinized every page of both applications from CNG and SCG and we found millions of dollars in unjustified and unwarranted requests, including inflated profits and unnecessary expenses. It’s clear that Connecticut families and businesses are owed substantial rate relief,” said Attorney General Tong.
The press release and links to the briefs can be found at https://www.einpresswire.com/article/721625337/attorney-general-tong-seeks-rate-decreases-for-connecticut-natural-gas-and-southern-connecticut-gas-customers-following-millions-in-over-collections
