Eversource Rates to Rise Nearly 20% This Summer

Daylight is in no short supply as summer begins, and it may behoove residents to take advantage of this natural light while it is available.

On June 15, 2018, The State of New Hampshire Public Utilities Commission approved a solicitation from Eversouce seeking power supply for customers having not elected to take energy service from a competitive suppler. The company’s supply charge will be rising from the current 7.903 cents per kilowatt hour to 9.412 cents in the wake of state regulators approving a 19.1 percent increase in energy supply charges.

According to officials at the utility company, this will be a direct pass-through for the price of generated power, and Eversource will not be receiving any additional profit from the increase.

Eversource explains the company’s rate changes on its website, stating that Eversource must pay a certain rate to purchase electricity that is delivered to customers, a rate that according to Eversource fluctuates frequently based on the amount of electricity available in the region. Next, the company must account for the cost of delivering the electricity to power homes across New Hampshire, Connecticut, and Massachusetts. The website further states that market conditions set the price of energy purchased for customers, and urges customers to take energy-saving matters into their own hands.

“We’re always mindful of the effect energy supply increases have on our customers, particularly those who are facing difficult financial circumstances.” stated Penni Conner, Senior Vice President and Chief Customer Officer at Eversource. “We urge customers to make full use of our energy efficiency programs to help reduce their usage, tighten up their homes and keep their energy bills down.”

This new charge will be in effect as of February 1st, 2019. Officials at Eversource have stated that they will purchase power for six-month periods, having two rate adjustments each year on August 1st and February 1st. This schedule is to reduce price volatility during the winter season when energy costs are highest, according to Eversource spokesperson, Kaitlyn Woods.

Eversource has changed its power-purchasing practices, buying the latest supply April 1, meant to last a four-month period not including any portion of the higher-priced winter period.

The increase in rate for energy at Eversource is significant, but it does not have to ultimately break the bank. For the time being, residents can begin developing energy-conserving strategies such as unplugging electronics when they are not in use, opening window shades to use natural light in favor of lamps, florescent lights, etc, leaving the air conditioner off while not at home, or setting a timer for it to turn on one hour before returning home, setting the air conditioner on energy save mode overnight, etc. More energy saving tips are available at energy.gov.

Eversource officials claim that the adjustment puts the company in line with other suppliers in regards to pricing, but encourage unsatisfied customers to choose the best plan to suit their needs. Eversource has provided a list of alternative suppliers at puc.state.nh.us/consumer/energysuppliers. Eversource also offers a number of energy-efficiency programs through its website, www.eversource.com.

Residents who are still not satisfied after taking these measures are encouraged to contact their State Representatives regarding the rate increase. Links to contact information for specific towns’ State Representatives can be found by visiting www.gencourt.state.nh.us/house.