Oxford Residents Could Soon See Significant Drop in Electric Rates: Eversource

By Wendy Ann Mitchell, Patch Editor

A large number of Eversource residential customers will soon see significant savings on their electric bill starting on July 1, 2016, company officials announced in a news release.

The company said that the Generation Service Charge (GSC) for Standard Service customers will be lower due to a recent negotiation. The lower rates will be in effect from July 1 through December 31, 2016.

This new generation rate is the lowest since 2004, the company said. So how much less will your bill be? Eversource estimates the average savings per month to be about $21 which adds up to more than $200 per year.

Sixty-six percent of Eversource’s 1.2 million customers in Connecticut are signed up for Standard Service and will see savings as a result of this price change.

“We are very excited to share such positive news with our customers,” said Penni Conner, Senior Vice President and Chief Customer Officer at Eversource in a prepared statement. “These are the lowest generation prices in over a decade and are coming at the time of year when customers are increasingly using more energy to cool their homes and businesses.”