(WTNH)–A change of heart appears to have taken place at energy giant ‘Eversource.’ The company has agreed to reduce a recent rate increase.
The original request would have added more than $13 to electric bills. Under the new proposal, the increase would be less than $7.
The settlement was worked out with the state Office of Consumer Council and Public Utilities Regulatory Authority (PURA). The agreement reduces the utility’s requested rate increase from $336.8 million to $154.4 million over three years, Consumer Counsel Elin Swanson Katz said.
The agreement is still subject to PURA approval.
“While no increase is welcome news, we believe that we have limited the requested rate increase as much as possible,” said Ellin Swanson Katz.
The new rates are expected to begin May 1.