To the Editor:

This is a testimonial letter submitted to the Public Utilities Commission:

Massachusetts Department of Public Utilities
Re: D.P.U. 25-170 – Rate Filing by The Berkshire Gas Company

To the Commissioners:

I write in unequivocal opposition to the rate increase proposed in D.P.U. 25-170 and, specifically, to challenge the excessive and unjustified return on equity (ROE) and capital structure assumptions embedded in this filing.

At its core, this case is not simply about infrastructure or cost recovery. It is about how much profit Berkshire Gas expects Massachusetts ratepayers to guarantee corporate interests regardless of economic conditions.

The requested ROE asks working families, seniors on fixed incomes, and small businesses to underwrite private shareholder returns that are insulated from the very market risks everyone else must bear.

That is not equitable, and it is not consistent with the Department's duty to ensure rates are just and reasonable.

A regulated monopoly is not entitled to premium-market returns without premium-market risk. Utilities operate with guaranteed customer bases, cost recovery mechanisms, and regulatory protections that dramatically reduce exposure compared to competitive enterprises. When risk is reduced, allowed return must follow. Anything else is a windfall at the public's expense.