API: Subsidies for nuclear power generation could hurt Connecticut consumers

HARTFORD, Conn. –March 21, 2017 – Connecticut Petroleum Council Executive Director Steven Guveyan criticized the Connecticut General Assembly’s Energy and Technology Committee’s approval of legislation that would provide subsidies for nuclear power generation.

“Today’s action is nothing less than corporate welfare that could raise costs for Connecticut consumers who already pay some of the highest electricity prices in the nation,” said Guveyan. “Instead of providing subsidies for nuclear power generation, the State of Connecticut should embrace the free market that has allowed clean-burning, affordable and abundant natural gas to lower energy costs for consumers in the region. Moving forward, we urge every legislator in Connecticut’s General Assembly to reject this misguided legislation that could harm consumers and distort the energy markets.”

The Connecticut Petroleum Council is a division of API, which represents all segments of America’s oil and natural gas industry. Its more than 625 members produce, process, and distribute most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and is backed by a growing grassroots movement of more than 25 million Americans.

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