Liberty Utilities Electric Rate Reduction Approved

The New Hampshire Public Utilities Commission approved Liberty Utilities’ summer electric energy service rates today, according to a press statement. The rate for residential and small business customers will drop from 15.4 cents/kWh to 7 cents/kWh effective May 1.

“This reduction will mean a $46 decrease per month for an average residential customer,” said John Shore, spokesman for Liberty Utilities. “This was a difficult winter for our customers so we are very happy that there will be a significant reduction this summer.”

The energy service rate represents the cost the utility pays for electricity on the energy market. Liberty Utilities does not generate its own electricity. It is purchased from energy wholesalers, who are not regulated. Liberty Utilities passes along those costs to customers without marking up the price.

This new approved rate is even lower than the 7.7 cent/kWh price that was set last summer. “I wish the energy service rates stayed low all year but because of the limited natural gas pipeline serving the region, we can expect rates to go up again on November 1st,” said Shore. “Hopefully those rates won’t go quite so high next winter.”