State lawmakers are being asked by Eversource to authorize $700 million in borrowing. The utility says this securitization would blunt the impact on consumers of losses from the tropical storm, pandemic and rate increase rollback. Energy Committee co-chair, Danbury Representative David Arconti, says there's no change of this happening and called it a joke for them to suggest it. Eversource calls the plan a rate reduction bond and says it would be in place of a rate increase due to extraordinary losses. Arconti says the request should have been made to the Public Utilities Regulatory Authority, though that would require a public review. He told the Connecticut Post that to legislate this away would set a terrible precedent. He added that the legislation references three open cases before PURA and if accepted, would effectively end the inquiry.