Eversource Touting Potential Bill Decrease In Latest CT Rate Filing

CONNECTICUT — Citing energy price that "continue to trend downward," Eversource Energy Wednesday filed a new Standard Service rate with the Connecticut Public Utilities Regulatory Authority.

The filing is the for the July 1 to Dec. 31 period.

The filing 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," Eversouerce officials said.

If approved by PURA, the new rate for residential customers who receive their energy supply from Eversource would change from the current 24.17 cents per kilowatt-hour to 13.82 cents per kWh, compared to 12.19 cents per kWh last summer. In Connecticut, the energy supply price changes twice a year – Jan. 1 and July 1.

Eversource officials said the utility 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. A customer's total bill will depend on how much energy is used, their rate category, and weather conditions," officials said.

“The volatility in the energy markets has hit our customers hard in the last year, so we're pleased to let our customers know about the new rate that will provide some relief in energy prices this summer,”Eversource President of Electric Operations in Connecticut Steve Sullivan. "It’s important to remember though, on average, Connecticut customers use 35 percent more electricity 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 that we offer – before the hot weather arrives.”

A line item on the delivery side of the bill will also be adjusted beginning July 1, Eversource officials said. If approved by PURA, the total delivery charge would change from $0.11751 cents per kilowatt-hour to $0.14107 cents per kilowatt-hour and would mean an increase of approximately $16 to customers using the average 700 kwh per month.

The increase is primarily due to the expiration of a roughly $12 a month credit on customers’ bills that went into effect in January to ease the burden of high energy costs, Eversource officials said.

All told, Eversource customers signed up for Standard Service and using an average of 700 kWh per month will see an overall decrease of $56, or 22 percent, on their total bill, utility officials said. While the lower supply rate is "welcome news," the utility has also been informing customers they should expect "continued market volatility and higher supply costs this coming winter."

Added Sullivan, “The energy market and international factors continue to affect the cost of natural gas and those impacts are still being felt by our Connecticut customers. This is a good time to think about your energy usage and plan for the likely increases we'll still experience. We'll continue to let customers know about trends in prices so they have the best information available and can make the best decisions for their energy usage and costs."

Eversource officials offered tips for customers 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 to 3 percent 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.
• 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.
• Sign up for a Home Energy SolutionsSM home energy performance assessment. During the visit, a certified technician checks a customer’s home to identify places that can be tightened up to save money and energy. The technician will do on-the-spot improvements like sealing up drafty doors and windows and closing air gaps around pipes and more to help keep the heat out.