By Bob Katzen

The Committee on Telecommunications, Utilities and Energy held a hearing on a measure that would prohibit the Department of Public Utilities from approving any rate request that would result in a utility earning a higher profit than what is allowed in five neighboring states.

“Massachusetts ratepayers are experiencing some of the highest costs in the nation,” said sponsor Sen. Jo Comerford (D-Northampton). “Now is the time for an all-hands on deck effort focused on reducing costs to ratepayers.

In recent years, DPU regulators have approved utility rates resulting in returns on equity for utilities that are higher than what utilities are allowed to earn in Connecticut, Rhode Island, Maine, Vermont and New Hampshire. The result has been Massachusetts ratepayers paying millions more annually on their utility bills so that utilities can earn higher profits in Massachusetts than in surrounding states.”