OLR Report 2015-R-0108 (1) updates OLR Report 2008-R-0452 describing why Connecticut’s electric rates are higher than those in most other states and (2) describes measures taken by the legislature since 2008 to reduce electric costs in the short and long term.
Based on the latest available data from the U.S. Energy Information Administration, as of November 2014, Connecticut had the second highest average residential retail electric rates in the country. High rates are a regional phenomenon, and all six of the New England states plus New York are among the 10 states with the highest rates.
We are aware of no empirical analysis as to why Connecticut’s rates are so high. However, it appears that several factors that apply across New England and interact with each other are the primary causes.
Click here to learn more about these factors and read the full report.