LAMONT ADVISES RESIDENTS OF CONNECTICUT’S EFFORTS TO MITIGATE IMPACT OF GLOBAL INCREASE IN ENERGY COSTS
Governor Ned Lamont and officials from several Connecticut state agencies are advising residents of global energy commodity cost increases that are driving energy prices this winter, including electric generation rates, natural gas rates, and home heating oil prices, and various efforts that are being undertaken in the state to help mitigate the impact of these external forces in Connecticut. During the pandemic, worldwide demand for natural gas and oil declined as the economy slowed, and producers returned money to shareholders after years of losses, rather than invest in new production. Labor and supply chain shortages, plus weather disruptions like Hurricane Ida, have also hampered production. Demand has now returned, faster than expected, and production is not keeping pace, leading to…