AN ACT PROHIBITING MERGERS OF CERTAIN UTILITY COMPANIES.

SB 1354 prohibits the Public Utilities Regulatory Authority from approving mergers where a company already controls a gas or electric distribution company in Connecticut, effective October 1, 2025. It directly affects utility companies seeking to acquire additional gas or electric distribution services within the state. Key mechanisms include blocking applications for new control of such utilities if the applicant already holds similar operations, and requiring holding companies to include Connecticut-based directors proportional to the state’s service area coverage. The bill also mandates public hearings and strict timelines for merger reviews but focuses on preventing further consolidation of utility control within Connecticut.