Not only are energy costs rising faster here than anywhere else in the nation, Connecticut ratepayers currently pay the highest electricity rates in the continental United States.²² For working families and households on fixed incomes, this is yet another financial burden, like property taxes and health care, that leaves Connecticut residents with less money in their pockets at the end of each paycheck.

The situation has hurt Connecticut's economic competitiveness, too. The rates paid by Connecticut industries are more than double the national average! It's no wonder manufacturing and other types of jobs continue to leave Connecticut.

Over the past few years, the General Assembly has enacted legislation encouraging citizens to become more energy-efficient. It has required CL&P and UI - the state's primary electricity purchasers and distributors - to invest in energy efficiency improvements before purchasing more generation. Connecticut has also set aside ratepayer-funds to promote cleaner and more efficient energy. These are positive steps in the right direction. But they are long-term steps that will not provide relief or reduce prices in the near future.

Connecticut residents pay 20.49 cents per kilowatt hour (kwh) when the national average is just 11.49 kwh. Our industries pay 15.06 kwh, when the national average is 6.93 kwh. The rates Connecticut's families and businesses pay are unsustainable if Connecticut is to be an attractive place to live, work, and restore its place as an economic leader in the nation.

Connecticut must act now to ensure immediate rate relief to all consumers. Under the administrations of Governors Rowland and Rell, we have had no leadership on energy policy, just rhetoric and inaction - inaction while Connecticut ratepayers experienced the fastest rate increases in the nation.

Here's just one example: Gov. Rell's proposal to divert money from two special energy and conservation funds in a misguided attempt to address next year's budget deficit. Financed by a small surcharge on electric rates, these funds have been successful in helping to create jobs, lower energy costs for homeowners and businesses, and promote renewable energy technologies. It's hard to find someone other than Gov. Rell who thinks using ratepayer funds to balance the state's budget is a good idea. I certainly don't.

Here's another example: as Governor I would have signed this year's energy bill (Senate Bill No. 493, An Act Reducing Electricity Costs and Promoting Renewable Energy). The bill was not perfect - few are - but it would have taken some substantial and important first steps in many of the areas I've laid out thus far. Specifically, it would have:

Created 1,200 direct jobs and 3,000-4,000 indirect jobs in the solar industry

Reduced consumer energy demand by directing DPUC to prioritize rate reduction and setting a goal to reduce consumer electric rates by 15 percent

Established a rate for low-income consumers funded through existing programs

Established current Energy Star guidelines as the minimum performance standard for televisions sold in the state, reducing climate change emissions by 105,000 metric tons - or the equivalent of removing 20,000 cars from the roads - and boosting energy savings enough to power 20,000 homes

Allowed municipalities to bond for PACE (Property Assessed Clean Energy) financing, so property owners can take out low-interest loans to make energy efficiency improvements to their properties (the loan would be attached to the upgraded property, not the owner)

As Governor, I will look to expand opportunities to finance and invest in energy efficiency and renewable energy by leveraging federal dollars, using the state's bonding authority, incenting private investment, and giving municipalities new options to finance investments.

As Governor, I will tap into expertise in our state agencies, universities, and elsewhere to refocus our energy experts on the goal of reducing costs for residential and business customers. Connecticut energy experts are a great resource, but leadership, as the record clearly indicates, has not lived up to the expectations of Connecticut's citizens. As Governor, I will create an energy policy leadership team and ensure coordination of our energy expertise to meet the state's energy needs in a way that maximizes benefits to ratepayers, the state's overall economy and our environment, without creating costly new State agencies.

I will fight to increase competition, which will help drive prices down. I will seek to use our purchasing power to negotiate better prices with energy companies - relief with the ultimate goal of reducing costs for every residential consumer in the state. In addition, my administration would be guided by goals to reduce costs for industries critical to competitiveness, provide relief to consumers in energy-congested areas that trigger costly fees, and reduce energy costs paid by state and local government.

I also fully support our current law that stipulates that, by 2020, at least 20% of the energy Connecticut consumes be generated from renewable sources. Achieving this "20 by 20" renewable energy goal would go a long way to reducing costs while also improving our environment and Connecticut's quality of life. Unfortunately, the law has come under attack from some in the oil industry who would like to see it repealed. As Governor I will work to ensure that we make progress each year towards meeting the goal, and that the law remains intact.

Finally, we must make a real and concerted effort to reduce our overall energy consumption. As Governor, I will lead a statewide energy efficiency drive among Connecticut residents with a goal of reducing our energy usage by 15% over the next two years, making Connecticut one of the most energy efficient states in the nation. My administration will promote the importance and necessity of energy efficiency in making our businesses more competitive, saving consumers money, and reducing pollution. We will require the use of timers on hot water heaters to lower energy usage in off-peak hours, and direct utility companies to provide comparison information to residential customers so that they know exactly how their usage stacks up against homes of similar size.

My goals as Governor will be as sustainable as the goals I realized as Mayor of Stamford. As Mayor, I recognized that every $1 spent on efficiency results in $4 of savings.²³ I instituted Stamford's energy conservation plan, which has helped the environment and passed cost savings on to taxpayers. Stamford's energy conservation strategies have included the first solar-based energy system installed by a municipality under the Connecticut Clean Energy Fund, recycling initiatives that not only provide for a cleaner city, but also increase revenue to the City by $2 million a year, and upgrades to our sewage treatment plant that go a long way toward improving the waters of Long Island Sound - projects that were completed on time and under budget.

In 2005, Stamford earned one of six "Clean Air-Cool Planet Climate Champion Awards" for our innovative energy efficient emissions reduction plan. Instituting an action plan to reduce global warming emissions by 20 percent in publically-operated facilities has already saved the city more than $1.1 million in energy costs.

With the right leadership, we can expand successes like this to every city in Connecticut. Leadership is also the key to reversing the record on past rate increases and restoring Connecticut's standing as a desirable place live, work, and grow business. As Governor, I will provide the leadership Connecticut needs to achieve that goal.