Bill Banning Variable Rates Advances

The Connecticut Energy & Technology joint committee has reported favorably a bill (S.B. No. 573) which would prohibit retail suppliers from charging variable electric rates to residential customers.

Text of the Joint Favorable Substitute as not immediately available, but a committee draft of the bill specifically provides that the variable rate ban includes all residential variable rate products, including a ban on placing a customer on a variable rate at the end of a fixed contract term.