Dive Brief:
- For the first time, competitive power suppliers in Connecticut are losing customers. Customers buying power from third-party suppliers fell 8% in the last twelve months.
- Rising power prices and sketchy business practices appear to be driving customers back to their incumbent utilities.
- Customers on variable rates saw their electric bills spike when wholesale power prices jumped recently.
Dive Insight:
Connecticut has one of the more robust retail markets among deregulated states. However, the competitive power industry has been stung by poor business practices and volatile power prices. State regulators are investigating the retail market in Connecticut.
