Customers on Default Service Rate to see a roughly $63 decrease on total bills compared to February 1, 2023

Energy company continues encouraging customers to take advantage of payment assistance programs, energy efficiency solutions to help manage their bills and reduce energy use

MANCHESTER, N.H. (December 14, 2023) – As the price of energy continues to trend downward amidst persistent volatility in energy supply markets, Eversource has filed significantly reduced electric supply rates with the New Hampshire Public Utilities Commission (PUC) that would be in effect from February 1, 2024, until July 31, 2024. Energy prices hit historic highs in New England last year due to international factors that affect the seasonal cost of natural gas, which is used to produce roughly half of New England’s electricity. The new electric supply prices from power generators that the energy company filed today with the PUC would be 59% lower for residential customers compared to last February 1 and 34% lower than the current supply, or Default Service, rate.

If approved by the PUC, the Default Service Rate for residential customers in New Hampshire would change from the current 12.58 cents per kilowatt-hour (kWh) to 8.29 cents per kWh, compared to 20.22 cents per kWh from February through July of this year. Combined with other slight adjustments on the delivery side of the bill expected to take effect on February 1, Eversource customers signed up for Default Service and using an average of 600 kWh per month will see an overall decrease of approximately $63, or 33% on their total bill compared to last February, and an overall decrease of approximately $22, or 15% on their total bill compared to their current bill.

“We are pleased that our customers will once again see lower supply rates this year after experiencing big price spikes following unprecedented volatility in energy supply markets the last couple of years,” said Eversource Executive Vice President of Customer Experience and Energy Strategy Penni Conner. “Despite this additional relief, we know that many customers continue to struggle with the cost of energy, and we want to remind them that we still have payment assistance programs and cost-effective energy efficiency resources available to help them manage their bills and energy use. With the launch of community power programs earlier this year in addition to the existing alternative supply market, our customers in the Granite State have more options than ever when it comes to where they receive their energy supply, and we encourage them to closely evaluate all those options to choose the one that works best for them.”

In New Hampshire, the energy supply price changes twice a year – February 1 and August 1 – representing the cost that Eversource pays generators for the power that customers use. 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. The supply rate change only applies to customers in New Hampshire who receive Eversource’s Default Service Rate and not those who receive their energy supply from a community power program or an alternative supplier.

Help is available for customers who need it

Eversource encourages customers to enroll in one of the company’s payment plans or assistance programs if they need help with their energy bill.

• The New Start Program can help income-eligible customers reduce or eliminate their outstanding balance in as little as 12 months when they make on-time monthly payments and Eversource will make up the difference by eliminating or forgiving a portion of the total balance enrolled in the program – reducing the amount owed each month.
• Customers that meet certain household income guidelines may qualify for a Discount Rate on their monthly bill through the Electric Assistance Program.
• Flexible Payment Plans are available to all customers, regardless of income, to pay their past-due balance over a period of time.
• Budget Billing Plans are also available and can help customers avoid seasonal spikes on their energy bill by paying a fixed amount each month based on their average annual usage.

Regardless of financial need, customers are eligible for various payment programs and are urged to call Eversource at 800–662–7764 or visit the energy bill assistance page of Eversource’s website for more information about the variety of programs the energy company offers to connect customers with assistance, help use less energy and manage energy costs. Following a recent decision from the PUC, an updated three-year energy efficiency plan through NHSaves will go into effect next year that will help increase access for customers to energy-saving programs, including specifically for low- and moderate-income customers, and the energy company encourages customers to participate and take advantage of program benefits. Among other highlights, the plan will also lower greenhouse gas emissions by 2 million tons or the equivalent of removing 436,000 cars from the roads for a year and support more than 1,700 full-time job equivalents in the clean energy workforce.

Eversource also encourages all customers to compare the Default Service Rate with other available rates to choose the option that works best for them. Customers can learn more about supplier options and what to consider before switching on the Department of Energy’s website here.

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 is New Hampshire’s largest electric utility, serving nearly 535,000 homes and businesses in 211 cities and towns, and also supplies water to approximately 10,300 homes and businesses in eight communities. Eversource is proud to be recognized as the #1 contributor to United Way in New Hampshire. Eversource harnesses the commitment of approximately 9,900 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:
William Hinkle
603-634-2228
william.hinkle@eversource.com