BERLIN, Conn. (November 5, 2021) – With New Englanders preparing for colder weather and the price of oil and natural gas continuing to rise around the world, the wholesale price of electricity has increased rapidly – particularly in this region – which is heavily reliant on natural gas-fired power plants to meet its electricity needs. This, along with supply constraints, extreme weather and other challenges related to the pandemic have combined to substantially increase the price of electricity for Eversource Connecticut customers starting January 1.
The energy company has filed with Connecticut’s Public Utilities Regulatory Authority (PURA) new electricity prices from power suppliers that would be in effect from January 1 through June 30, 2022. On average, an Eversource residential electric customer who uses 700 kilowatt hours of power each month could see an increase of about 21% over their current monthly bill – approximately $31 per month – on the supply portion of the bill. How much a customer pays will depend on how much energy is used, their rate category, and weather conditions through the heating season.
“We truly understand the strain that this will have on many of our customers who are still dealing with the COVID-19 pandemic. Unfortunately, world conditions are such that energy prices will continue to rise and remain high for a while,” said Eversource Executive Vice President, Customer Experience and Energy Strategy Penni Conner. “That’s why we continue to urge our customers to take advantage of the many energy efficiency and payment programs available that can help them save energy and money year-round – programs like the state’s UniteCT and our COVID-19 payment plans.”
The energy company offers a wide variety of energy efficiency programs that can help customers reduce their power use and save money year-round. One of the best ways to discover what efficiency measures are needed in any home is to sign up for the Home Energy Solutions assessment. To learn more about the many energy saving programs available, visit Eversource.com.
As a regulated energy distribution company, Eversource purchases electricity from wholesale suppliers on behalf of its customers and passes the cost directly to them with no profit to the company. By state law, the Standard Service price is adjusted twice a year – January 1 and July 1.