Summer Energy Supply Costs Drop Significantly for Eversource Customers
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.