- Connecticut AG William Tong and the state’s Public Utilities Regulatory Authority Office of Education, Outreach and Enforcement (PURA) reached a settlement with third-party electric supplier Public Power to resolve allegations that the company failed to publish “next cycle rate” information as required by Connecticut law. This information provides consumers with information about upcoming rate increases, and provides them an opportunity to switch electricity suppliers.
- Public Power will also pay a monetary settlement of $3 million, which will be used to cover unpaid electric bills for Connecticut customers facing financial difficulties. Under the terms of the settlement, Public Power, and three related companies – Viridian, CT Gas and Electric, and Energy Rewards – will permanently exit the Connecticut power market, and a fourth related company, Ambit, will exit the market in September.
- The settlement has its genesis in a 2018 Connecticut Public Utilities Regulatory Authority investigation that revealed that many state third-party electric suppliers had not provided next cycle rate information to customers. PURA provided an amnesty window during which suppliers would not be penalized if they voluntarily self-reported, and reimbursed customers for unpublished rate increases. Public Power refused to participate, triggering the investigation, and the resulting settlement.