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PURA Approves On-Bill Financing

A recent article in the Hartford Business Journal highlights “a key tool in [Connecticut] Gov. Dannel P. Malloy’s proposed $7 billion expansion of the natural gas home heating system” – allowing homeowners to pay for conversion and upgrade costs through financing on their electric or natural gas bills.

Converting from expensive home-heating oil to natural gas offers significant savings to homeowners in the Northeastern United States, as natural gas costs far less per BTU. However, the upgrade costs can reach into the thousands of dollars. Allowing homeowners to pay those costs over time as a portion of their utility bill will allow many more to consider converting, and could improve the environment as well, as natural gas burns cleaner.