Lamont Schedules Bond Vote to Reduce Public Benefit Charges On Electric Bills

CONNECTICUT — Gov. Ned Lamont has scheduled a vote by the State Bond Commission next week on the proposed release of $155 million in state bond funding to help reduce public benefits charges on electric bills, offering residents a measure of relief amid broader efforts to lower energy costs.

The commission is set to meet Friday, Aug. 1.

The funding includes $125 million to offset the costs of hardship protection programs for low-income customers and $30 million to reduce expenses tied to the state's electric vehicle charging infrastructure program.

“Using state bond funding as a means of reducing public benefits charges is one action we can take to provide some savings on consumers’ electric bills, but I must stress that this is only one step,” Lamont said. “We need to do more to address the actual costs of generating and delivering electricity.”

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Public benefits charges appear on utility bills to fund various programs, including energy efficiency initiatives, power procurement, assistance for low-income households, and costs related to ISO-New England, the nonprofit overseeing the regional electric grid.

Savings for customers are expected to average approximately $10 per month, though actual amounts will vary based on utility provider, customer classification, and usage, according to a statement from the Governor's Office released Friday. Reductions are projected to take effect around September 2025 and continue for several months into 2026. A second round of funding is anticipated in 2026 to extend the savings into early 2027.

The move is made possible by Public Act 25-173, recently signed into law by Lamont. The bipartisan energy affordability legislation includes several measures to address high energy costs and was developed in cooperation with both Democratic and Republican lawmakers.

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The proposed bond-funded reductions follow additional recent steps to curb energy expenses, including a 25 percent cut in public benefits charges approved by the Public Utilities Regulatory Authority in May and supply rate reductions of 13 percent for Eversource customers and 14 percent for United Illuminating customers that took effect July 1.

Lamont, who chairs the Bond Commission, encouraged members to vote in favor of the allocations, citing the potential for further cooperative policymaking to deliver long-term rate relief.