Everyday Economic News

Lamont's campaign proposes plan to cut energy costs; Fazio says its '8 years late'

Connecticut Governor Ned Lamont's campaign has unveiled a plan to reduce energy costs by increasing utility oversight, proposing 15-year franchise terms, subpoena power for the Office of Consumer Counsel, and requiring affordability considerations in rate-setting. The plan has been criticized by Republican opponent Ryan Fazio as "eight years late" and by Democratic challenger Josh Elliott as "incredibly weak," both suggesting Lamont has previously favored corporate interests. The proposals come amid a looming 11-percent rate hike request from Eversource.

VAALCO Energy (EGY) CEO uses 39,934 shares to cover tax withholding

VAALCO Energy's CEO, George W.M. Maxwell, reported the withholding of 39,934 shares of common stock at $5.53 per share to cover tax obligations stemming from restricted stock vesting. This transaction is categorized as a routine compensation and tax event rather than a change in his investment stance. Maxwell continues to hold over 1.1 million VAALCO Energy shares after these transactions.