Eversource Customers See Huge Rate Hike

BOSTON, MA — Are you an Eversource customer? The good news is electric rates aren't going up $91 million per year. The bad news is they are going up nearly $37 million per year.

The Department of Public Utilities on Thursday approved a much smaller rate hike for Eversource's electric customers in Massachusetts than was requested. Still, Attorney General Maura Healey condemned the increase that will cost Eastern Mass. customers a collective $12.2 million more per year and Western Mass. customers an extra $24.7 million more per year.

The rate hike takes effect Jan. 1. It's unknown how much more each bill will be.

Eversource provides electricity for 140 communities across the state. You can see a full list here.

Eversource wanted to hike rates more than double the amount that was approved.

"We are disappointed with the deep cuts the DPU made to our rate request because we feel we provided sufficient and detailed documentation to support the total increase we requested," Eversource spokesman Michael Durand said.

Healey said the approved hikes are too much of an increase.

"Disappointingly, the increase includes a 10 percent shareholder return, one of the highest in the country," Healey said.

The decision allows for additional annual rate increases of over 3.5 percent per year over the following four years for a total increase of over $220 million over five years, she said.

The higher rates are needed in part to boost state-mandated clean energy and green technology initiatives, including building the infrastructure for a network of electrical vehicle charging stations and energy storage pilot programs.

Materials from The Associated Press were used in this report