April 1, 2018 Rate Update
This April, a new era for providing your energy service will begin for Eversource. Changes are ahead for how and when we procure your energy supply.
Until now, Eversource’s “Default Energy Service” rate - the cost of producing or purchasing the energy needed to serve our customers who do not choose a competitive energy supplier - has been based, in part, on the cost of producing energy from our New Hampshire-based power plants.
With the sale of those plants this winter the method by which that rate is established will change.
From The Energy Marketplace to You
The setting of our Default Energy Service rate will now be based on the price of purchasing energy solely from the competitive regional marketplace.
Twice a year, Eversource will issue a Request for Proposal (RFP) to the wholesale energy marketplace, seeking the lowest price to serve our Default Energy Service customers for a six-month period.
That price must ultimately be considered and approved by the New Hampshire Public Utilities Commission (NHPUC) - the same method used by many years by other New Hampshire electric utilities.
April 1, 2018 Adjustment
The initial shift to a competitive, market-based Default Energy Service rate is expected to take place on April 1, 2018, at which time Eversource will make a rate adjustment.
This date allows time for the closing of the sale of all Eversource power plants in New Hampshire, for the RFP bidding process to take place, and for the NHPUC to consider and approve the new rate.
February & August Adjustments
After the April 1 rate adjustment, your Default Energy Service Rate will be adjusted twice each year as has been done in the past, except now on February 1 and August 1 rather than January 1 and July 1.
By shifting away from a January 1 adjustment, the higher energy costs typically experienced by customers during the winter period will now be spread out, and there will be less market price volatility.
What you can expect
The shift to a competitive, market-based Default Energy Service rate is expected to result in overall savings for customers who currently purchase energy from Eversource.
All New Hampshire electric customers have the right to purchase energy from a competitive energy supplier. Eversource provides Default Energy Service to those customers who do not choose to receive energy, or who have been denied service, from a competitive energy supplier.
A list of suppliers, including a comparison of prices, is posted on the NHPUC website.