Eversource plans to cut investment in CT by $500M over 5 years due to regulatory ‘uncertainty’

Eversource Energy officials said during an earnings call Thursday morning that the utility company plans to cut its capital expenditures in Connecticut by nearly $100 million in 2024, and by $500 million over the next five years, as a result of the state’s “uncertain” regulatory environment. John Moreira, Eversource’s executive vice president, CFO and treasurer, said the reductions will continue “until we see Connecticut’s regulatory decisions come back into alignment with law and state policy.” Eversource President and CEO Joe Nolan added that he has “serious concerns” about the company’s ability to implement clean energy technologies, and to reduce carbon emissions, in light of the ongoing dispute over cost recovery.


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