Eversource proposed default electric service rate carries 38 percent decrease

Eversource has announced its proposed default electric service rate for Aug. 1, which is a 38 percent decrease from its current rate.

If approved by the state’s Public Utilities Commission, the new default electric service rate would be 12.6 cents per kilowatt hour, down from the current 20.2 cents per kilowatt hour. The rate would be in effect from Aug. 1 to Jan. 31, 2024, and a customer using an average 600 kilowatts of electricity per month would see a $46 decrease on their monthly bill, the utility said. 

“With the unprecedented volatility in the energy markets hitting our customers hard in the last year, we’re pleased to let them know that some relief is coming with the new supply rate in August,” said Penni Conner, Eversource’s executive vice president for customer experience and energy strategy.

But Conner also said energy usage typically increases for New Hampshire customers by 25 percent during the summer months because of air conditioners, fans, and other appliances. She urged customers to take advantage of Eversource’s energy efficiency and payment programs.

The lower rate is certainly welcome news, but Conner warned customers that they should expect continued market volatility and higher supply costs this coming winter, largely tied to the changing prices of natural gas. New England imports all of its natural gas, as it does not make any of its own.

“Energy market volatility and international factors that affect the cost of natural gas here at home will continue to impact our customers, and now is a good time to think about your energy usage and plan for the likely increases we’ll still experience,” added Conner.

Unitil, another New Hampshire utility, filed its proposed default electric service rate earlier this week, a close to 50 percent decrease from its current rate.