Blumenthal petition makes way through DPUC
HARTFORD, Conn. (Legal Newsline) - Utility executives in Connecticut will be required to clearly disclose exactly how much they are being paid, thanks to the efforts of state Attorney General Richard Blumenthal.
Friday, the state Department of Public Utility Control sided with Blumenthal's January petition, which argued a need for more clarity when it comes how much the executives take in total.
"Consumers deserve to know why their utility costs are skyrocketing and how much of their money is going directly to executives," Blumenthal said.
"As utility costs continue to spiral out of control, and as customer service is called into question, top executives and officers at utility companies are enjoying colossal compensation packages, including incentive bonuses that extend well beyond base salaries."
Recently, Blumenthal has been critical of utilities like AT&T, Southern Connecticut Gas Company and Connecticut Natural Gas Company.
Cable television executives are not subject to the DPUC's draft decision.
"This decision is a resounding victory for consumers and deserves final approval," Blumenthal said.
"Existing publicly available information about executive compensation is meaningless and worthless because it is shrouded in confusion, buried and scattered throughout public disclosures."
The DPUC already has a section on its Web site for executive compensation figures, but Blumenthal said the information is often dated and presented in a confusing manner.
From Legal Newsline: Reach John O'Brien by e-mail at firstname.lastname@example.org.