Standard Electricity Service Rates Rising Slightly In CT This Summer

CONNECTICUT — Connecticut utility regulators Thursday were reminding residents to be prepared for a slight bump in standard electricity service rates this summer.

The Connecticut Public Utilities Regulatory Authority sent out the advisory for both Eversource Energy and United Illuminating residential and business customers.

The new rates become effective for the July 1 through Dec. 31 period.

The "revised" electric supply rates will be in effect for residential electric standard service customers:

• Eversource standard service rate: 12.050 cents per kilowatt-hour (kWh)
• United Illuminating standard service rate: 10.620 cents per kWh

The current residential standard service rates are:

• Eversource: 11.484 cents per kWh
• UI: 10.673 cents per kWh

PURA officials said standard service generation rates – the "supply" portion of a customer's bill – are adjusted twice a year in January and July, based on a competitive bidding process, to reflect wholesale electricity market prices. While PURA oversees the competitive process during which the electricity is procured to supply standard service customers, PURA does not regulate the wholesale electricity market or its pricing.

As a result of "continued supply chain restraints and other geopolitical tensions," natural gas prices remain at historically high levels not seen in over a decade. As the primary fuel source for New England’s electricity generation fleet, natural gas prices drive electric generation (i.e., supply) costs paid by customers. This has led to higher-than-normal July 1 standard service rates.

"It is important to prepare now for increased temperatures and cooling demand, particularly as supply rates will be higher this summer than in previous years," regulators said.

According to PURA, there are several ways customers can take more direct control over their energy expenses, including:

• Ensuring efficient cooling systems and proper insulation. Programs to help offset the upfront costs of energy efficient upgrades can be found through EnergizeCT.
• Both Eversource and UI offer various payment plans to both smooth out the monthly fluctuations in utility expenses and to assist with past due payments:

- COVID-19 Payment Plans are available through June 30 to any customer requesting financial assistance, to facilitate the repayment of past due balances in addition to the customer’s current monthly bill. These Plans require no initial or down payment or demonstration of financial need; can be up to 24 months in length; and waive any fees or interest in the calculation of the monthly payment amount.

- Budget billing smooths out monthly variations in a customer’s electric utility bills by charging a fixed price per month based on historical usage. Budget billing is available from both Eversource and UI.

- Additional financial assistance and payment plans exist. More information and contact information for your utility can be found on PURA's website.

- Both Eversource and UI offer time varying rates that provide customers with lower charges for use during “off-peak” time periods before noon and after 8 p.m.

- Eligible low-income customers may still be able to receive heating assistance benefits through the Connecticut Energy Assistance Program. The application deadline has been extended through June 30.

PURA officials said customers can find a summary of delivery and standard service generation costs on the first page of their electric utility bill. PURA also created the following narrated tutorials for residential ratepayers to better understand their electric bill from Eversource or UI. Additionally, PURA staff are overseeing an effort to improve bill design and presentment to Eversource and UI customers as part of Docket No. 14-07-19RE06.

PURA officials said Ratepayers can compare Eversource and UI standard service generation rates to licensed electric suppliers' current offers on Connecticut's official generation rate board at EnergizeCT.

"PURA also urges all customers to review the supply summary on the first page of their electric bill each month," regulators said.