HARTFORD, Conn. (WTIC) - State utility regulators have ruled that all Connecticut water, gas, and electric utilities must pass corporate tax savings from federal tax reform along to consumers.
Richard Sobolewski with the Office of Consumer Counsel says some companies like Eversource and Connecticut Natural Gas have already passed along the savings to consumers, while others like United Illuminating and Southern Connecticut Gas have not. He said the new ruling will change that, eventually.
"In some instances, it didn't immediately reduce the rates, but it forced the companies to put aside revenues to be returned at a later date, most likely at the time of each company's next rate proceeding."
According to rough calculations by the Consumer Counsel Office, the savings amount to around two dollars per month for most utilities.
The decision is still subject to appeal.
