Lamont Slams Eversource Rate Hike, Points to CEO Salary

The Connecticut political and regulatory fight over electricity costs is heating up. Gov. Ned Lamont is openly challenging Eversource’s request for an 11% rate hike.

He argues that customers would end up with higher bills just to fund executive pay and generous shareholder returns. PURA — the state’s independent utility regulator — finds itself right in the middle of it all.

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This post looks at Lamont’s critique, PURA’s regulatory shakeup, and how residents from Hartford to Norwich, and from New Haven to Danbury, are watching the drama unfold. Folks in Stamford, Bridgeport, Waterbury, Norwalk, Greenwich, and plenty of other towns are paying close attention.

Lamont questions Eversource’s rate hike and calls for PURA scrutiny

Lamont’s letter frames the rate request as a choice between helping Connecticut families and enriching shareholders. He pointed to Eversource’s $1.69 billion profit last year and CEO Joseph Nolan’s $13.5 million compensation, which is apparently 94 times the average worker’s wage.

The letter mentions a possible $60 million payout for Nolan if the company were sold. Lamont stressed that PURA, not the governor’s office, has the final say and urged the regulator to decide whether the increase actually helps households in places like Hartford, New Haven, Stamford, and Bridgeport more than it serves investors.

Lamont’s public stance comes as people worry about rising energy costs in lots of regions across Connecticut. The administration keeps pointing out that Connecticut already has pretty high electricity prices—something residents in East Hartford, West Hartford, Milford, and Waterbury mention a lot when talking about their household budgets.

He also talked about steps his administration has already taken to soften the blow, like negotiating nuclear contracts and using state bonds to offset the public benefits charge for ratepayers in towns like Norwich, Groton, and Danbury.

What Eversource says and how supporters frame the exchange

Eversource spokeswoman Jamie Ratliff rejected Lamont’s framing, saying executive salaries don’t drive customer bills and accusing politicians of politicizing energy policy during an election year. The company insists its prices reflect the real costs of delivering reliable service, grid upgrades, and fuel, not executive compensation.

Lamont’s team, though, says a strong regulator and honest accounting are crucial to make sure the rate case helps families across Connecticut—from coastal towns like Norwalk and New London to inland cities such as Bristol, Meriden, and Middletown.

PURA overhaul reinforces independence and sets new expectations

The governor’s push for change comes alongside a sweeping overhaul of PURA. Lamont’s administration appointed four new five-year commissioners, aiming to end a stretch when several members served under expired terms and included former chair Marissa Gillett.

Supporters think the new board should provide tougher oversight in rate cases that affect city budgets in places like New Britain, Hamden, Shelton, and Windsor Locks. Critics, though, worry about political pressures creeping into regulatory decisions.

Political reactions across Connecticut cities

Josh Elliott, Lamont’s Democratic primary challenger, liked the governor’s populist tone. Still, he’s not convinced PURA will really side with ratepayers.

Ryan Fazio, the Republican nominee, pointed to Democratic energy policies as the reason for higher costs in towns like Shelton, East Hartford, and Groton. He wants the state to loosen up its rules.

Former PURA Commissioner Michael Caron admitted there’s a lot of political pressure around rate cases. He warned that politics shouldn’t mess with neutral regulatory decisions in Stamford, Waterbury, or Norwalk.

Residents in Norwich, Mystic, Danbury, and nearby towns are anxious about how PURA’s choices will hit their electric bills. Lamont keeps saying he lets his appointees do their jobs and trusts they’ll protect Connecticut families.

People are frustrated by high electricity costs in Hartford and New Haven. Folks in Bridgeport, Stamford, and Norwalk worry about whether the service is reliable.

Households in Danbury, Groton, East Hartford, and West Hartford are struggling with affordability. PURA’s upcoming decision has communities from Glastonbury and Cheshire to Windsor and Old Saybrook on edge, waiting to see how it’ll shape their bills in the years ahead.

Here is the source article for this story: Lamont skewers Eversource rate hike plan, points to CEO salary

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