Eversource Files New Summer Standard Service Rate, See What CT Customers Will Pay

CONNECTICUT — Eversource Energy Friday filed a new lower Standard Service supply rate with Connecticut’s Public Utilities Regulatory Authority that would go into effect July 1.

The new Standard Service rate for residential customers receiving energy supply through Eversource would change from the current 11.19 cents per kilowatt-hour to 9.75 cents per kWh, according to the filing.

For the typical residential customer using 700 kWh per month, that represents a decrease of approximately $10, or 5 percent, on a total bill.

In Connecticut, the energy supply price changes twice a year – on Jan 1 and July 1.

Following a restructuring of the electric utility industry in Connecticut more than two decades ago, electric distribution companies such as Eversource are prohibited from generating electricity and are required to purchase the power that customers use from electric suppliers on the wholesale market through a highly transparent regulatory process.

Energy supply procurement is a coordinated process between utilities, PURA, and the Office of Consumer Counsel. Overseen by the procurement manager at PURA, in consultation with OCC, Eversource receives bids from electric wholesale suppliers that are determined by the cost of energy provided by generators on the open market and the cost of meeting Connecticut's renewable energy requirements. The most competitive offers that are received from suppliers – which must comply with Connecticut’s clean energy requirements – are presented to regulators with no markup or profit to Eversource, utility officials said.

The state and utilities have no control over the energy supply price from power generators.

Even with an expected rate decrease, the company is reminding customers that, since a significant factor in determining the amount of the bill is the amount of electricity used, the typical increase in summer energy usage can still lead to higher bills. On average, customers in Connecticut use about 35 percent more electricity during the summer months, and that increase can be even greater when there are multiple heat waves like the state experienced last year.

"Even if you keep your thermostat set at the same temperature all summer long, you’ll use more electricity when it’s 95 degrees outside, as opposed to 80 degrees, because your system is working that much harder to keep your home or business cool,” Eversource President of Connecticut Electric Operations Steve Sullivan said.

An Eversource graphic describes that:

Sullivan continued, "The lower price we filed for energy supply beginning July 1 is great news, but a lower rate doesn’t automatically mean a lower bill. How much electricity you use will ultimately determine your energy bill’s bottom line, which is why it’s a great idea to consider energy efficiency measures that can help reduce your usage. We also always urge our customers to regularly visit EnergizeCT.com to shop for the lowest possible supply price."

As of March, nearly 83% of electric residential customers are on Standard Service, and Eversource encourages customers to shop, sign up, and save by comparing options offered by third-party suppliers on EnergizeCT.com. Those who have never shopped before can find help navigating the process here. Customers can also visit Eversource.com for seasonal energy-saving tips as well as access to programs and rebates to help reduce energy use.

Customers who need help with their energy bill can enroll in one of Eversource’s payment plans or assistance programs.

They are:

• The Matching Payment Program can lower the amount customers owe on energy bills. For every dollar they pay and every dollar they receive from the Connecticut Energy Assistance Program, we will subtract a dollar from the amount they owe.
• An Electric Bill Discount is available to customers with a financial hardship status on their electric account. Based on their household income or receipt of a public assistance benefit, customers may be eligible for up to a 50% discount off their electric bill per month. For example, if they have a $100 monthly bill, it would be $50 less if they receive the 50% discount.
• Flexible Payment Plans are available to all customers, regardless of income, to pay their past-due balance over a period of time. Residential customers with active service may be eligible for payment plans up to 18 months.