(22 News WWLP – Ellen Fleming) A group of 90 bipartisan state lawmakers have sent a letter to the Department of Public Utilities (DPU) expressing concern about recently granted rate increases.
In October, a similar letter was sent to the DPU Chair Matthew Nelson urging the department to protect residents from rate increases.
Back in the fall utility companies cited multiple reasons for why the rate increase was necessary, but the focus was the high cost of oil and the crisis in Ukraine. However, since DPU approved the rate increases oil prices have fallen. As of last week, the average cost for a gallon of home heating oil is $4.61 which is up 28.3% from last year and lower than it was in October. In the summer of 2022, oil was around $140 dollars a barrel, it is now around $75 dollars a barrel.
Lawmakers are calling for the DPU to reassess the increase to save ratepayers money.
“With the cost of oil, what it’s trading at on a daily basis being significantly less from what it was when that price was approved, that is an external factor that has changed and the price to our constituents and their monthly bills should reflect that,” remarked State Senator John Velis.