CT BUSINESSES
Businesses Join Outcry Over Spike in CT Electric Rates
By David Krechevsky
Connecticut's businesses are reeling from a significant spike in electric rates, particularly CKS Packaging Inc. in Naugatuck, which reported a $350,000 annual impact due to rising electricity costs. Their facility, which uses about 11.1 million kilowatts annually, is emblematic of the challenges faced by many.
In July, residential customers saw their bills increase by an average of 30% for Eversource and 35% for UI, a shock mirrored by commercial and industrial sectors. Connecticut now has the fourth-most expensive electricity in the U.S., and many companies, including manufacturers, are calling for state action to stabilize energy costs.
The rise in electric bills is largely attributed to a public benefits charge aimed at supporting renewable energy and recouping losses from the pandemic. Eversource reported that commercial customers faced a 57% increase in delivery charges, with small businesses seeing a 42% hike.
This surge has prompted discussions among policymakers about potential legislative actions to address the issue. As the Connecticut Business & Industry Association noted, some businesses experienced delivery charge increases of up to 60% without a change in usage.
For more insights on how businesses are responding to these challenges, read the full article
here.
