Patrick Signs Law To Refund Utility Co. Penalties To Customers

Law360, New York (August 7, 2012, 5:07 PM EDT) -- Massachusetts Gov. Deval Patrick on Monday signed into law a bill that would refund penalties imposed on public utilities stemming from power outages to customers and require utilities to pay a separate assessment to fund storm investigations conducted by state regulators.

The penalties imposed on utilities would be repaid to affected customers in the form of rate credits. Utilities are prohibited from passing the assessment charge on to their customers.

The bill also requires utilities to beef up their emergency response systems during major storms, including...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.