Eversource seeks double digit rate hike

BERLIN, Conn. (WFSB) - Eversource is looking for a double digit rate hike.

During a virtual meeting with reporters earlier on Tuesday, the company’s president of Connecticut operations, Steve Sullivan, proposed an 11-percent rate increase.

Per CT Insider, an approved rate hike would not take effect until next summer.

State Attorney General William Tong said that Eversource isn’t seeking the hike because it needs one, but because it thinks it can get away with it.

“Connecticut families are getting crushed by unaffordable energy costs while Eversource executives crow to Wall Street over surging profits and rake in multimillion dollar bonuses. But they choose now to demand hundreds of millions of dollars more. Why? Because after years of litigation and lobbying, they finally ran their chief regulator out of town,” Tong said. “They want a rate hike now not because they need one, but because they think they can get away with it. We’re going to scrutinize every profit, every bonus, every perk and every padded expense in their application and we’re going to be fighting for Connecticut families and small businesses at every step of this process.”

Channel 3 reached out to Eversource for more information.

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