Attorney General William Tong and Consumer Counsel Claire E. Coleman are asking for a review of Connecticut Natural Gas Corp.’s rates following a recent earnings report that showed the utility had over-collected $8 million from customers.
Tong and Coleman submitted a joint petition to the Public Utilities Regulatory Authority seeking a new rate hearing to ensure ratepayers are paying no more than necessary for their service.
CNG’s last rate case before PURA took place five years ago.
CNG’s most recent earnings report shows the company has been earning 177 basis points above its authorized return on equity of 9.3%, based on previously approved rates, according to Tong.
The rates appear beyond what is necessary for the utility to cover its expenses, Tong said.
CNG, which is owned by Avangrid, serves 184,000 customers in central Connecticut and Greenwich.
“Connecticut Natural Gas is pleased to be able to return money to ratepayers this year,” said Craig Gilvarg, a spokesperson for Avangrid. “While CNG is reviewing the motion filed by the Attorney General’s Office this morning, PURA has already approved CNG’s proposal to return over $4 million to its ratepayers this upcoming heating season.”
