With the winter months approaching and New Englanders preparing for colder weather, Eversource is delivering cost savings for customers on its Standard Service rate in Connecticut.
The Public Utilities Regulatory Authority (PURA) [has] approved electricity prices from power suppliers that are 18 percent lower than last winter, the lowest winter rate since 2013.
On Jan. 1, the residential Standard Service supply price will be 7.87 cents per kilowatt-hour, down from last winter’s 9.56 cents. This is a direct pass-through cost to customers for the price of generating power.
While New England still faces significant constraints on natural gas supplies that affect the price of electricity, Eversource is pleased to be able to pass this winter’s price reduction on to its customers.
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— This is an announcement from Eversource.
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“While New England continues to experience many energy challenges, this winter price cut is good news for our customers as the weather gets colder and the nights get longer,” said Penni Conner, Senior Vice President and Chief Customer Officer at Eversource Energy. “It’s also important to remember we offer a variety of energy efficiency programs that can help customers save energy and money year-round, along with convenient monthly payment options.”
The new generation rate will be in effect through June 30. On average, a residential customer who uses 700 kilowatt hours of electricity each month will see a reduction of approximately $12 per month, compared to last winter, on the supply portion of his or her Eversource bill. How much a customer actually pays will depend on how much energy is used, the rate category, and weather conditions through the heating season.
In July of this year, the Standard Service supply charge dropped to 6.61 cents per kilowatt-hour, due in large part to the fact that demand for natural gas is not as high during summer and fall months as it is in the winter.
As a regulated energy distribution company, Eversource purchases electricity from wholesale suppliers on behalf of its customers and passes the cost directly to them with no profit to the company. By state law, the Standard Service price changes twice a year – Jan. 1 and July 1. A
ll Eversource customers have the option to buy their power through the company or from a retail supplier. Customers can find out more information about alternate suppliers and rates at http://www.energizect.com/compare-energy-suppliers.
Eversource offers a wide variety of energy efficiency programs that can help customers reduce their power use and save money year-round. One of the best ways to discover what efficiency measures are needed in any home is to sign up for the Home Energy Solutions assessment. Customers can also take advantage of generous energy efficiency rebates and incentives. To learn more about the many energy saving programs available, visit www.energizect.com.
Eversource (NYSE: ES) transmits and delivers electricity to 1.2 million customers in 149 cities and towns and provides natural gas to 226,000 customers in 72 communities in Connecticut. Recognized as the top U.S. utility for its energy efficiency programs by the sustainability advocacy organization Ceres, Eversource harnesses the commitment of its approximately 8,000 employees across three states to build a single, united company around the mission of delivering reliable energy and superior customer service. For more information, please visit our website (www.eversource.com) and follow us on Twitter (@EversourceCT) and Facebook (facebook.com/EversourceCT).