CT Senate GOP Celebrates Affordability Relief: S.B. 4 to Reduce Electric Bills by Millions

HARTFORD, CT – After years of tireless advocacy for lower energy bills, State Senator Ryan Fazio (R-Greenwich) is proud to announce a major step forward in financial relief. A bipartisan compromise, S.B. 4, has passed the Senate. This legislation would deliver $200 million in annual savings on electric bills. This savings package includes a $100 million reduction in public benefits charges and another $100 million cut to delivery and transmission costs.

“For three years, my Republican colleagues and I have been shouting from the rooftops that Connecticut’s electric rates are too damn high and calling for leadership to cut electric rates and the Public Benefits tax buried in every resident’s bill,” said Sen. Fazio. “We’ve heard from tens of thousands of families who are being crushed by these costs—families forced to choose between heating their homes and putting food on the table. We never stopped fighting for them. Today’s compromise marks one small step toward long-overdue relief.”

CT Senate Republicans led the charge in passing legislation two and a half years ago to require utility companies to clearly disclose public benefits charges on customer bills. Since then, Republican lawmakers have filed legislation each year to significantly reduce rates and improve the state’s overall energy policy.

“For years, Sen. Fazio and Republicans have been sounding the alarm that Connecticut’s sky-high electric rates are crushing working families,” Sen. Stephen Harding said. “Republicans believe we need to do far more to provide that relief. This legislation does not go far enough, but thanks to Republicans constantly beating the drum and forcing Democrats to recognize this cost-of-living crisis, we are finally taking a step in the right direction.”

While S.B. 4 does not reflect the full scope of Republican proposals, Senate Republicans recognize the bipartisan agreement as a meaningful step.

“Although we pushed for deeper cost reductions, we are glad to support this compromise with our colleagues on the other side of the aisle. There was a good faith negotiation on S.B. 4 which creates the first relief in years. Cost cuts to the Renewable Portfolio Standards, EV charging subsidies, subsidies for expensive solar producers and other private energy producers, and other common-sense measures are some progresses that will reduce electric bills,” said Sen Fazio. “Electric rates are still too high and we will continue to fight for fully eliminating the public benefits charge in the future and make our state affordable for all.”