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API: Picking winners and losers in energy market hurts Connecticut consumers

Michael Tadeo | 202.682.8114 |

HARTFORD, Conn. –  February 7, 2017 – Connecticut Petroleum Council Executive Director Steven Guveyan today testified before the Connecticut General Assembly’s Energy and Technology Committee in opposition to legislation that would provide subsidies for nuclear power generation.

“When our region has been paying 50 percent more for electricity as compared to the rest of the nation, energy policies need to focus on bringing consumers the best prices rather than picking winners and losers,” said Guveyan. “Providing government subsidies sets a dangerous precedent, distorts the market and provides no incremental environmental impact. Instead of expanding government carve outs and subsidies that could add costs for consumers, the State of Connecticut should embrace the markets, which, thanks to abundant and affordable natural gas, have been delivering lower electricity prices.”

Guveyan’s testimony is available on the API website.

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.