Reliable Electricity Is at Risk in Connecticut
23 minutes ago Guest Blogger
By Ron Brisé
As a former utility regulator, I understand the desire by public officials to do everything they can to keep water, gas and electric bills as low as possible. All Americans know that the cost of living in this country is going up too fast, putting many families under severe economic strain.
But Connecticut’s utilities are in the news lately. At the end of 2024, credit rating agencies downgraded several utilities that serve Connecticut. For example, S&P Global reduced Eversource’s credit rating from A- to BBB+. Four other utilities in the state, including water and natural gas companies, were also downgraded by S&P. Following suit, another credit rating agency, Moody’s, also downgrading utilities in Connecticut.
Credit downgrades are typically in response to poor performance or bad business decisions made by corporate leadership. But in this case, things are a little different. Here is a quote from an analyst at Moody’s about the downgraded utilities. “The rate outcome is evidence of a challenged regulatory environment, where the disparity between filed rate requests and ultimate rate orders has become considerable. Absent a return to more constructive political and regulatory decisions, both utilities could see further credit deterioration over the next two years.”
https://wattsupwiththat.com/2025/01/31/reliable-electricity-is-at-risk-in-connecticut/
