Eversource CEO Bragged He “Shut the Faucet Off” on Connecticut. Looney and Duff Want to Know What Got Cut.
“People across Connecticut are sick and tired of paying more every month while giant corporations like Eversource make money hand over fist. Families are being asked to absorb an 11 percent increase in their electric bills, while Eversource’s CEO tells Wall Street about ‘over $1 billion in cash coming in the door’ and urges investors to ‘get in heavy’ to rake in big profits.
“Worse, he admitted that Eversource ‘shut the faucet off in Connecticut’ until it got paid, saying, ‘We weren’t going to put another dime down there.’ That’s a utility monopoly treating the people it serves as leverage. Mr. Nolan has dropped the mask. Now we know where we stand.
“He also assured investors that after Election Day, ‘the volume’s going to go right down.’ Not from Senate Democrats. Connecticut ratepayers deserve to know exactly which projects Eversource held back, and we call on the company to make that list public.”
-Senate President Pro Tempore Martin M. Looney (D-New Haven) and Senate Majority Leader Bob Duff (D-Norwalk) responding to Eversource CEO Joe Nolan’s September 30 remarks to investors at the Wolfe Research utilities conference. To learn more and read a transcript of Nolan’s comments, click here.
FOR IMMEDIATE RELEASE
Contact: Kevin Coughlin | 203-710-0193 | kevin.coughlin@cga.ct.gov
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