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Eversource Rates To Increase on January 1, 2021

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BERLIN, Conn. (November 6, 2020) – Eversource Energy submitted its proposed winter electricity prices to the Connecticut Public Utilities Regulatory Authority (PURA) Thursday. If approved, the residential Generation Service Charge (GSC) would be 8.391 cents per kilowatt-hour, up from the current 7.375 cents per kilowatt-hour. Customers in Connecticut who are signed up for the company’s Standard Service generation rate would see the increase on the supply side of their electric bill beginning January 1. This is a direct pass-through cost to customers for the price of power generation, with no profit to the company.
“We recognize the effect higher electricity prices can have on our customers, especially during these unprecedented times with the ongoing COVID-19 pandemic, and we want to help them better manage their energy use,” said Eversource Senior Vice President and Chief Customer Officer Penni Conner. “Like our customers, we
have no control over fluctuating energy prices, but the myriad of energy-efficiency programs we offer can help people reduce their usage, tighten-up their homes and keep energy bills down year-round. We also offer various payment arrangements for customers who are having difficulty paying their energy bill, including the COVID-19
payment plan which allows them to pay past-due balances for up to 24 months.”
The new generation rate will be in effect from January 1 to June 30. The average residential customer using 700 kilowatt hours of electricity each month will see an increase of approximately $7.11 per month on the supply portion of their bill. Each customer’s total bill depends on how much energy they use, their rate category,
and weather conditions.
Under the state law that deregulated electricity, energy companies like Eversource bid twice a year for power supplies, award contracts to low bidders, and pass along the costs to customers without marking them up. The Standard Service price changes on January 1 and July 1. All Eversource customers have the option to buy their power from state-approved third-party suppliers or go with the energy company’s Standard Service rate. Customers can find out more information about alternate suppliers and rates at http://www.energizect.com/compare-energy-suppliers.
Eversource offers a wide variety of energy efficiency programs that can help customers reduce their power use and save money. Information can be found at Eversource.com.

Written by: Mike Minarsky

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