NORWICH, CT – May 6, 2019 – The Connecticut Municipal Electric Energy Cooperative (“CMEEC”) today issued the following statement regarding the resolution of its arbitration proceedings with the Town of Wallingford:
“We are pleased that the arbitrator ruled with CMEEC on the vast majority of the claims at issue. CMEEC’s strenuous defense over the past 5 years resulted in a settlement at an amount dramatically lower than what was originally sought, consistent with the best interests of CMEEC and its members. We can now put this matter behind us as we continue to deliver on our mission of providing reliable, low cost energy for the benefit of CMEEC member municipalities and the rate payers they serve.”
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To put this all in context, Wallingford raised 13 claims in the arbitration, reportedly seeking $18 million in overcharges.