State Investigates Allegations Of Market Power Abuse

NEW HAVEN, Conn. (CBS Connecticut and AP) – Connecticut officials have launched an investigation into allegations of market power abuse by two of the state’s largest energy providers.

The Office of Consumer Counsel says the investigation began after university researchers claimed Eversource and Avangrid companies intentionally created natural gas shortages so they could drive up energy rates.

The report by university researchers estimates the practice cost utility customers billions of dollars over a three year period.

Eversource representative Tricia Taskey Modifica said Tuesday the report is a “complete fabrication.” She says the company is “always acting in the best interest of our customers.”

Avangrid says their gas supply portfolios and gas pipeline contracts are consistent with industry standards.

The Public Utilities Regulatory Authority is expected to call for a hearing in the upcoming weeks.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Connecticut

Sign Up Today!
Hear WTIC Podcasts
At The Box Office

Listen Live