OLR Bill Analysis

sSB 573

AN ACT CONCERNING VARIABLE ELECTRIC RATES.

SUMMARY:

This bill prohibits retail electric suppliers from (1) entering into variable rate contracts for residential electric generation services or (2) automatically renewing such contracts or causing them to be renewed.

The law, unchanged by the bill, allows suppliers to charge residential customers month-to-month variable rates after their contract expires if they meet certain notice requirements. Suppliers cannot charge such customers a termination or early cancellation fee. Customers who want to switch from the supplier to their electric distribution company's standard service offer must be transferred within 72 hours (CGS 16-245o & 16-244c).

EFFECTIVE DATE: October 1, 2015

COMMITTEE ACTION

Energy and Technology Committee

Joint Favorable Substitute

Yea

21

Nay

2

(03/24/2015)