The state's attorney general is coming up with a plan to reshape electricity distribution in the state in an effort to save consumers hundreds of millions of dollars.

Attorney General Richard Blumenthal announced the two-tier proposal Tuesday. It includes a profit tax against the power companies and the creation of a Connecticut Electric Authority. The new authority would finance the building and renovation of power plants and then sell the power at cost.

The attorney general says the plan would be funded through the profit tax and possibly bonds.