An Act Concerning The Bridgeport Thermal Limited Liability Company.
The passage of this bill grants The Bridgeport Thermal LLC significant powers to operate within Bridgeport, overriding certain provisions of existing statutes. It outlines their authority to install, maintain, and manage necessary infrastructure, such as mains and pipes, to transport thermal energy efficiently. This development aligns with goals for improved energy services in the region, potentially enhancing energy reliability and performance for local consumers.
SB00354, titled 'An Act Concerning The Bridgeport Thermal Limited Liability Company,' establishes a new entity, The Bridgeport Thermal Limited Liability Company (LLC), designated as a thermal energy transportation company. This bill enables NuPower Thermal, LLC and its associates to function as a body politic and corporate entity within the city of Bridgeport. The company will be responsible for providing heating or air conditioning services through various means, including the distribution of hot or chilled water.
Notably, the bill permits The Bridgeport Thermal LLC to lease infrastructure to other corporations for providing heat or air conditioning, raising concerns about its impact on market competition and service availability. While proponents viewed this as a positive step towards modernization and improved energy services, critics may question the implications of allowing a single entity control over significant thermal energy resources within the city, fearing monopolistic outcomes that could lead to diminished service options or inflated prices for consumers.