Customers on Default Service Rate to see a roughly $46 decrease on total bills

Energy company continues encouraging customers to explore available energy efficiency programs that can help reduce energy usage as summer heat arrives

MANCHESTER, N.H. (June 15, 2023) – As the price of energy continues to trend downward, Eversource has filed significantly reduced electric supply rates with the New Hampshire Public Utilities Commission (PUC) that would go into effect August 1 until January 31, 2024. 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 the PUC, the new rate for residential customers who receive their energy supply from Eversource would change from the current 20.2 cents per kilowatt-hour (kWh) to approximately 12.6 cents per kWh, compared to approximately 22.6 cents per kWh from August 2022 through January 2023. A customer’s total bill will depend on how much energy is used, their rate category, and weather conditions.

“With the unprecedented volatility in the energy markets hitting our customers hard in the last year, we’re pleased to let them know that some relief is coming with the new supply rate in August,” said Eversource Executive Vice President for Customer Experience and Energy Strategy Penni Conner. “At the same time, energy usage increases – on average – for our New Hampshire customers by 25 percent 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 we provide to reduce energy use and help support our customers year-round – before summer truly arrives.”

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 a competitive supplier.

If the supply rate decrease is approved by the PUC, Eversource customers signed up for Default Service and using an average of 600 kWh per month will see an overall decrease of approximately $46, or 24% on their total bill, in New Hampshire. 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.

“Energy market volatility and international factors that affect that cost of natural gas here at home will continue to impact our customers, and now is a good time to think about your energy usage and plan for the likely increases we’ll still experience,” added Conner. “We always encourage our customers to evaluate all of their options for electric supply, especially as the launch of community power programs in New Hampshire earlier this year offers another choice to those in participating communities – and we’ll continue to let customers know about trends in prices so that they have the best available information to 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.

• Check qualification for an energy audit, which can lead to incentives for weatherization. When weatherizing homes through insulation and air sealing, customers experience increased comfort year-round and reduce heating and cooling costs by up to 20%.

• 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.

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.

• 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 Eversource.com 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.

All customers are also encouraged to compare the Default Service Rate and 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 532,000 homes and businesses in 211 cities and towns, and also supplies water to approximately 10,200 homes and businesses in seven communities. Eversource is proud to be recognized as the #1 contributor to United Way in New Hampshire. Eversource harnesses the commitment of approximately 9,500 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