As a 15-year veteran of the utility industry, I can tell you with certainty there’s nowhere like Connecticut. In other states, when utility companies receive downgrades in their credit rating, regulators and consumer advocates haul them into hearings, demanding to know their plans to rectify them.
Not so in Connecticut, where regulators themselves are named as the reason for the downgrades, and policymakers like the Office of Consumer Counsel and the Chairs of the legislature’s Energy and Technology Committee work overtime to provide political cover.
Meanwhile, the scope of these downgrades – from S&P and Moody’s, two of the most respected financial institutions in the world – extend statewide, from two Avangrid companies, Eversource and all its subsidiaries, to even a small water company …