einpresswire.com · September 8, 2026
Governor Lamont Announces State Bonding Approved To Continue the Recently Enacted Reduction in Public Benefit Costs on Electric Bills
# Governor Lamont Announces State Bonding Approved To Continue the Recently Enacted Reduction in Public Benefit Costs on Electric Bills
News Provided By The Office of Governor Connecticut September 08, 2026, 22:52 GMT
### The Public Benefits Category Currently Appears as a Credit on Customer Bills Due to This State Bonding Combined With Profitable Millstone and Seabrook Nuclear Contracts
(HARTFORD, CT) – Governor Ned Lamont, chairman of the State Bond Commission, today announced that the commission voted at its meeting this morning to approve a second round of state bond funds that will enable a reduction in public benefits costs on electric bills for Connecticut residential customers that went into effect last year to continue through at least next spring.
Using state bond funds to reduce public benefits costs was made possible by the recent enactment of Public Act 25-173, the omnibus energy affordability legislation that Governor Lamont developed in collaboration with Democratic and Republican lawmakers containing several actions to reduce electric bills.
“Over the last several years, we’ve worked in collaboration with Democratic and Republican lawmakers to enact reforms that deliver relief on electric bills, and this action is one more step in our overall effort to lower costs for ratepayers,” Governor Lamont said. “Our administration is taking an all-of-the-above approach to delivering affordable, reliable energy because we need to confront this multipronged issue from every angle to deliver a utility system that delivers the best results for Connecticut ratepayers.”
The public benefits portion of electric bills pay for electricity procurement, energy efficiency and electrification programs, assistance for low-income customers, and the costs associated with the operations of ISO-New England, the nonprofit that oversees the regional grid.
The first round of state bond funds under this authorization was approved in August 2025 and included $125 million to reduce the bill impact of affordability programs for low-income customers, as well as $30 million to reduce the bill impact of the electric vehicle charging infrastructure program. Following the release of those funds, the Connecticut Public Utilities Regulatory Authority authorized a reduction in public benefits costs that went into effect in September 2025.
This second round of state bond funds approved today includes $125 million for the affordability programs and $20 million for the electric vehicle charging infrastructure programs and will enable this reduction in public benefit costs to continue through at least April 30, 2027. These bond funds are continuing to reduce the average overall residential customer bill by 3-5%.
Since May 1, 2026, the public benefits category has appeared as a credit on customers’ electric bills due to the release of these state bond funds combined with profitable contracts that Governor Lamont negotiated with the Millstone and Seabrook nuclear power plants, which provide energy at fixed prices and insulate ratepayers from volatile fossil fuel pricing.
So far in 2026, overall residential electric bills for Eversource and United Illuminating customers in Connecticut have decreased by an average of 18% due to these reductions in public benefits costs, as well as reductions in supply rates that went into effect on July 1, 2026.
Connecticut actions to lower electric bills
In recent years, Governor Lamont and state leaders have fought aggressively to reduce electric bills, taking a multi-pronged approach to advancing both long and short-term affordability in each component of electric bills.
Since taking office in 2019, Governor Lamont has signed legislation that:
- Blocked utility companies from passing lobbying fees, political donations, payments to public relations firms, and other costs onto ratepayers; - Imposed penalties on utilities that fail to meet performance standards; - Ended unnecessary subsidies to utility company profits; - Provided energy bill relief and forgiveness for the most vulnerable while making program efficiencies; - Increases Connecticut’s bargaining power through multistate procurement; - Supports lower-cost financing for storm recovery through securitization; and - Reduces the cost of solar energy by automating local permitting and encouraging the combination of solar and batteries.
Attorney General William Tong and Consumer Counsel Claire Coleman have advocated for ratepayers at every major proceeding before the Connecticut Public Utilities Regulatory Authority. Those efforts have blocked upwards of $1 billion dollars in requested rate hikes from gas, electric, and water companies.
Governor Lamont has also made smart, long-term investments in clean energy, including nuclear power and offshore wind. For example, Connecticut’s nuclear contracts, which provide energy at fixed prices and insulate ratepayers from volatile fossil fuel pricing have saved Connecticut ratepayers more than $250 million in 2025 and $280 million so far in 2026, for a lifetime total savings of more than $450 million.
Additionally, Governor Lamont has overseen further diversification of the state’s energy production by fighting the Trump administration to complete construction of Revolution Wind. Attorney General Tong successfully sued the Trump administration in 2025 over efforts to suspend work on the Revolution Wind offshore wind project, which is now operational and expected to deliver 2.5% of the region’s electricity supply. Revolution Wind is projected to save Connecticut and Rhode Island ratepayers hundreds of millions of dollars over 20 years.