ERNews

Connecticut lawmakers revealed the long-awaited final draft of their plan to cut residents’ electric bills on Monday, before moving quickly to advance the measure through the frenzy of the legislature’s final week in session. The legislation, Senate Bill 4 , is expected to save utility customers between $325 million and $350 million annually over each of the next two years, according to proponents. Those numbers amount to about 1 to 2 cents per kilowatt-hour off current electric rates, potentially adding up to a $100 or more a year for many customers. State Sen. Norm Needleman, D-Essex, who serves as co-chair of the Energy and Technology Committee, called it, “one of the most significant things we’ve done,” in the last six years of attempting to address the state’s infamously high electricity prices. “We put money back in people’s pockets, took a hard look — and much as many of my colleagues think we can do better, I dare them to try without screwing up the system,” ...