Energy savings begin as soon as the customer enrolls. Energy efficiency savings are the result of consumers making the recommended changes in energy use. This combination program typically results in a 12 to 15 percent savings. The credit will allow consumers who choose to buy electricity from an alternative supplier to receive additional savings beyond the required rate reductions. The Board of Public Utilities must act on the proposal by March 31, 1999.
Some consumer groups oppose the deal.
The court determined that the rate cut was unlawful and unreasonable. The ruling is credited with giving the state legislature the impetus to pass restructuring legislation. SB 428, the Electric Utility Restructuring Act of 1999, provides for retail competition beginning in the year 2001 for schools, residential, and small business customers. All other customer classes will have access to competition January 1, 2002. Utilities will be permitted to recover at least half of their stranded costs during a five-year transition period.