Dive Brief:
- Residential customers in Connecticut overpay competitive electricity suppliers by about $13.7 million a month, a report from the state's ratepayer advocate said.
- The vast majority of Connecticut Light & Power's and United Illuminating's customers are paying more than the default standard offer price, according to the report by a consultant hired by the Office of Consumer Counsel.
- State regulators are investigating the retail market after hundreds of complaints poured in about competitive power suppliers.
Dive Insight:
"The fact that some suppliers are able to maintain exorbitant rates while retaining their customers is symptomatic of widespread consumer harm and a malfunctioning market," the report said. Clearly, changes are coming to Connecticut's retail market. This may signal that other markets will change their rules for retail competition to protect consumers.