Sen. Miner Statement on Eversource’s Reported $700 Million Request For State Borrowing

September 22, 2020

State Senator Craig Miner (R-30) released the following statement in response to reports that Eversource met with Gov. Lamont and select lawmakers to request $700 million in state borrowing by way of securitization to mitigate its financial obligation following Tropical Storm Isaias, the COVID-19 pandemic and rate increase rollbacks.

“It causes me displeasure to read that Eversource reportedly requested State borrowing in any form. If true, I want to be very clear that I believe Connecticut and its residents should not involve itself in any way with securitizing, borrowing or loaning money for this utility. Based on what I saw during its response to the aftermath of Tropical Storm Isaias, we need continued investigations into the wasted resources caused by Eversource’s administrative failure and greater accountability from state regulators who oversee the utility’s operations and storm preparation measures.

Eversource’s lack of preparation and organization caused visiting crews to spend hours of travel time—daily—to and from work zones, far away from their place of lodging. Additionally, poor oversight and planning resulted in large crews standing idle while awaiting direction and clearance from upper management. We should not grant Eversource any form of State assistance, especially because the question of a theoretical rate hike for storm cleanup costs has yet to even be heard by the Public Utilities Regulatory Authority.”