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Electric ratepayers to get credits on bills beginning in January

Published 12/10/2012 12:00 AM
Updated 12/10/2012 11:55 PM

Connecticut electric ratepayers will benefit from a $5 million settlement between the Federal Energy Regulatory Commission and Constellation Energy Commodities Group Inc., Attorney General George Jepsen, Consumer Counsel Elin Swanson Katz and Public Utilities Regulatory Authority Chairman Arthur House announced last week.

In March, FERC reached a settlement with Constellation Energy to resolve an investigation into manipulation in energy markets. The settlement included a $135 million fine paid to the federal government and a $110 million forfeiture of unjust profits. As part of that forfeiture, Constellation was to pay $20 million to the ISO-New England area for the benefit of consumers.

Connecticut's $5 million allocation - 25 percent of the total - will benefit ratepayers with Connecticut Light & Power, United Illuminating and the Connecticut Municipal Electric Energy Cooperative. All Connecticut electric ratepayers will receive credits on their electric bills beginning in January.

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