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Lawmakers being asked by Eversource to authorize $700 million in borrowing

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.