Connecticut Senate Bill SB00141

Connecticut 2015 Regular Session

• Introduced: 1/20/15
• Refer: 1/20/15

Caption

An Act Requiring General Assembly Review And Approval Of Public Service Company Rate Increases.

Impact

If enacted, SB00141 would amend Title 16 of the general statutes, creating a requirement for legislative oversight on utilities' decisions to increase rates significantly. This change signifies a shift towards a more centralized approach in regulating utility rate increases, where public utilities would have to justify their rate hikes to lawmakers. Consequently, it could lead to more thoughtful regulation and a check on utilities' pricing strategies, ideally resulting in more stable utility costs for consumers. Proponents argue that this is a critical step towards preventing excessive charges by power companies, ensuring that any changes are justified and in the public interest.

Summary

SB00141, proposed by Senator Markley, is designed to enhance regulatory scrutiny over public service companies by requiring the General Assembly's review and approval for any rate increases exceeding ten percent. The bill addresses the dynamics of utility rate increases, which have significant implications for consumers and the economy at large. The underlying aim of this legislation is to ensure transparency and accountability within the public utilities sector, thereby protecting residents from sudden and substantial financial burdens resulting from increased utility costs.

Contention

Debate around SB00141 could emerge from differing perspectives on government intervention in the market. Supporters may argue that the bill protects consumers and fosters transparency in a sector where rate increases can disproportionately affect low-income households. Conversely, opponents might contend that such oversight could hinder the ability of public service companies to respond swiftly to economic pressures and market changes, potentially complicating operational flexibility and investment into infrastructure improvements. The balance between consumer protection and market efficiency remains a central point of contention in discussions surrounding this bill.