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Change in Proposed Tax On Electric Generators

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HARTFORD, Conn. (AP) _ A Connecticut tax on electric generators targeting the Millstone nuclear plants has been replaced by a lower tax in a budget agreement between Gov. Dannel P. Malloy and legislative leaders.

Generators would instead be taxed .0025 cents per kilowatt hour, or 25 cents per $100. The original proposal endorsed by a legislative committee would have raised $340 million, with $332 million from Millstone. It was opposed by Millstone owner Dominion Resources, and others.

Malloy also would scrap his proposed two-tenths of a cent tax per kilowatt hour. The revised tax would raise $72 million in revenue, more than Malloy’s initial proposal.

Millstone spokesman Ken Holt says the revised tax is more balanced. But Sen. John Fonfara, co-chairman of the legislature’s energy committee, said customers would end up paying higher rates.

     (Copyright 2011 by The Associated Press.  All Rights Reserved.)

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