Connecticut’s Public Utilities Regulatory Authority (PURA) approved a 1.5 percent rate increase for Connecticut Natural Gas Co. to generate an additional $6.5 million in revenue.
To ensure “sufficient” financial strength and resources to build out the state’s requested gas infrastructure, Connecticut Natural Gas requested a 6 percent rate increase to raise revenues by $20 million. However, PURA Commissioner Michael A. Caron stated the approved rate increase is what is just and reasonable.
The infrastructure expansion is a part of the state’s comprehensive energy strategy, which aims to provide natural gas as a low-cost option for hundreds of thousands of residents and three-quarters of all the state’s businesses.
The PURA decision determined the rate will provide Connecticut Natural Gas with enough revenue to maintain and operate its distribution system, while still providing a reasonable profit.
The company currently provides natural gas to the greater Hartford area and select southwestern municipalities, including within Fairfield County.
