‘Unfair, unwarranted, unwise and just downright wrong.’ Sen. Blumenthal proposes bill against utility executive bonuses
Sen. Richard Blumenthal says the legislation is the Senate companion to the House No Bonuses for Utility Executives Act.
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Sen. Richard Blumenthal is proposing a new bill to hold utility companies accountable for costs.
Blumenthal says the legislation is the Senate companion to the House No Bonuses for Utility Executives Act, which seeks to stop utility executive bonuses in years when utilities increase faster than the rate of inflation, and cap bonuses when rates are stable.
"What the CEO of Eversource makes is 94 times what the average employee makes, and his raise of 19% last year to $13.5 million is completely unjustified. When, now, they're going to be asking for a rate increase of 11%,” said Blumenthal. "Making profits that impose higher costs on Connecticut consumers. That is unfair, unwarranted, unwise and just downright wrong."
Blumenthal has asked the Federal Energy Regulatory Commission to halt additional charges to Connecticut consumers, as well as refunds for ratepayers who have been overcharged.
