$4.5 Million Settlement with Retail Supplier to Fund Connecticut Enforcement Activities

Energy Plus Holdings, LLC will pay $4.5 million to the State of Connecticut, which will be used for retail market enforcement and education activities, to resolve an investigation into its rates and marketing practices sought by the Connecticut Attorney General and Consumer Counsel, under a settlement revealed yesterday.

The settlement remains subject to approval by PURA.

The AG and OCC had originally petitioned for an investigation of Energy Plus in 2012, alleging that Energy Plus, "engaged in a pattern of soliciting customers with the direct or implied promise of competitive, market based rates and savings on their electric bills, but then rapidly increasing customers' charges substantially above competitive market rates or the utilities' standard service rates."

Click here for prior story on original petition

The settlement provides that the payment is voluntary and does not constitute restitution, civil penalty or disgorgement. The payment shall be used by PURA for, "the purposes of enhancing consumer education, consumer assistance, and the enforcement of State laws and regulations in Connecticut's electric supplier market."

The settlement provides that it shall not be deemed in any respect to constitute an admission by any party that any allegation or contention in this proceeding is true or false.