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Eversource proposes supply side increase for winter energy rates

Eversource Energy submitted its proposed winter electricity prices to the Connecticut Public Utilities Regulatory Authority. If approved, the residential Generation Service Charge would increase to 8.391 cents per kilowatt-hour, up from the current 7.375 cents per kilowatt-hour. Customers in Connecticut who are signed up for the company’s Standard Service generation rate would see the increase on the supply side of their electric bill beginning January 1. 

Eversource says this is a direct pass-through cost to customers for the price of power generation, with no profit to the company. 

The new generation rate will be in effect through June 30th. The average residential customer using 700 kilowatt hours of electricity each month will see an increase of approximately $7.11 per month on the supply portion of their bill. 

Under the state law that deregulated electricity, energy companies like Eversource bid twice a year for power supplies, award contracts to low bidders, and pass along the costs to customers without marking them up.

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Todd Schnitt

Local Headlines