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Connecticut News
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Summer Energy Supply Costs Drop Significantly for Eversource Customers
May 17, 2023
electric rates
energy costs
energy saving tips
Customers on Standard Service Rate to see up to $56 decrease on total monthly bills
BERLIN, Conn. (May 17, 2023) – As the price of energy continues to trend downward, Eversource today filed a new Standard Service rate with Connecticut’s Public Utilities Regulatory Authority (PURA) which would go into effect from July 1 to Dec.31, 2023. This comes after energy prices hit historic highs in New England last year due to natural gas supply constraints related to the continued war in Ukraine and global demand. If approved by PURA, the new rate for residential customers who receive their energy supply from Eversource would change from the current 24.17 cents per kilowatt-hour (kWh) to 13.82 cents per kWh, compared to 12.19 cents per kWh last summer. In Connecticut, the energy supply price changes twice a year – January 1 and July 1. Eversource does not earn a profit on the cost of electricity. The company only charges customers what it pays generators for producing the power and there is no markup. A customer’s total bill will depend on how much energy is used, their rate category, and weather conditions.
“The volatility in the energy markets has hit our customers hard in the last year, so we’re pleased to let our customers know about the new rate that will provide some relief in energy prices this summer,” said Eversource President of Electric Operations in Connecticut Steve Sullivan. “It’s important to remember though, on average, Connecticut customers use 35% more electricity during the summer months with air conditioners, fans and other appliances working overtime to keep things cool inside. That’s why we continue to urge everyone to take advantage now of the many energy efficiency and payment programs that we offer – before the hot weather arrives.”
A line item on the delivery side of the bill will also be adjusted beginning July 1. If approved by PURA, the total delivery charge would change from $0.11751 cents per kilowatt-hour to $0.14107 cents per kilowatt-hour and would mean an increase of approximately $16 to customers using the average 700 kwh per month. This increase is primarily due to the expiration of a roughly $12 a month credit on customers’ bills that went into effect in January to ease the burden of high energy costs. All told, Eversource customers signed up for Standard Service and using an average of 700 kWh per month will see an overall decrease of approximately $56, or 22% on their total bill. While the lower supply rate is welcome news, the energy company is also informing customers they should expect continued market volatility and higher supply costs this coming winter.
“The energy market and international factors continue to affect the cost of natural gas and those impacts are still being felt by our Connecticut customers,” added Sullivan. “This is a good time to think about your energy usage and plan for the likely increases we’ll still experience. We’ll continue to let customers know about trends in prices so they have the best information available and can make the best decisions for their energy usage and costs.”
Things customers can do to manage energy usage this summer:
- Keep air conditioners set as warm as comfort allows. For every degree higher on the thermostat, the air conditioner will use 1-3% less electricity.
- Don’t block air flow. Keep air vents clear of obstructions such as furniture, curtains, and rugs.
- Operate major appliances during the cooler parts of the day. Energy is conserved by using appliances like clothes washers and dryers early in the morning or late in the evening when there is also less demand on the electric system.
- Keep blinds closed when it’s hot out to prevent unwanted heat from entering a home through windows. Using curtains, shades, and blinds can lower indoor temperatures by up to 20 degrees.
- Switch to ENERGY STAR®-certified LED lights. The energy-efficient bulbs run cooler and last up to 25 times longer than incandescent lights.
- Set ceiling fans to rotate counterclockwise and at a higher speed in the summer to circulate the air more effectively, creating a cooling, wind chill effect. Remember to turn the fan off when leaving the room.
- Sign up for a Home Energy SolutionsSM, home energy performance assessment. During the visit, a certified technician checks a customer’s home to identify places that can be tightened up to save money and energy. The technician will do on-the-spot improvements like sealing up drafty doors and windows and closing air gaps around pipes and more to help keep the heat out.
To learn about the many energy saving programs available, visit Eversource.com.
Help is available for customers who need it
Eversource encourages customers to enroll in one of its payment plans or assistance programs if they need help with their energy bill.
- Budget Billing Plan helps avoid seasonal spikes on your energy bill by letting customers pay a fixed amount each month based on their average annual usage.
- The Matching Payment Program reduces past due balances with affordable monthly payments – as low as $50 for electric or gas heating customers who receive public assistance benefits.
- The New Start Program forgives overdue balances for electric customers as on-time monthly budget payments are made. (For example. if your budget payment amount is set at $150 per month and your past due balance is $1,200, for every month you make your required $150 payment towards your bill, we will reduce your past-due balance by $100.)
- Payment Plans are available to all customers to help pay their past-due balance over a period of time.
Regardless of financial need, customers are eligible for various payment programs and are urged to call Eversource at 800-286-2828 or visit Eversource.com/BillHelp to find the right plan for them and enroll online.
Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2023 and recognized as one of America’s Most JUST Companies. Celebrated as a national leader for its corporate citizenship. Eversource transmits and delivers electricity to 1.28 million customers in 149 cities and towns, provides natural gas to 251,000 customers in 74 communities, and supplies water to approximately 217,200 customers in 59 communities across Connecticut. Eversource harnesses the commitment of approximately 9,600 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally-recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.
CONTACT:
Tricia Taskey Modifica
860-665-4605
Mitch Gross
(860) 665-5221