Senator Ryan Fazio Joins Governor Lamont and Energy & Technology Committee Leadership to Commend Performance-Based Regulation Approved by PURA
April 26, 2023

FOR IMMEDIATE RELEASE
April 26, 2023
Link Included
Senator Ryan Fazio Joins Governor Lamont and Energy & Technology Committee Leadership to Commend Performance-Based Regulation Approved by PURA
Watch Sen. Fazio’s remarks here.
ESSEX- Today, Senator Ryan Fazio (R-Greenwich) joined Governor Ned Lamont and fellow members of leadership on the Energy & Technology Committee to applaud the commissioners of the Connecticut Public Utilities Regulatory Authority (PURA) after the approval of Performance-Based Regulation (PBR) system. The system seeks to increase accountability among utility companies by implementing a PBR incentive system, ensuring that earnings or profits are tied to quality performance.
Senator Fazio began, “It is commonsense that consumers in this state pay for quality and results rather than just paying for the cost incurred. In this innovative approach to regulating utilities, implementing PBR is the type of regulatory innovation that Connecticut residents are looking for.”
“Performance-based regulation is the product of quality, bipartisan legislation, found in the ‘Take Back Our Grid Act,’ passed in the 2021 Legislative session. Hopefully, my colleagues and I in the General Assembly can use that momentum to pass additional legislation, including S.B. 7, which provides PURA with the tools to implement strong oversight in defense of consumers, as well as lowering costs and improving reliability,” Fazio said.
S.B. 7 passed the Energy & Technology Committee with bipartisan support in March and awaits action by the full Senate.
The below table provides a summary of the regulatory goals and priority outcomes:
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