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Company officials said they will be able to deliver savings to its customers after PURA approved electricity prices from power suppliers that are 24 percent lower than last winter’s historic highs. The company’s standard service supply rate of 9.56 cents per kilowatt-hour will go into effect on Jan. 1.
While New England still faces significant constraints on natural gas supplies that affect the price of electricity, Eversource is pleased to be able to pass this winter’s price reduction on to its customers, said Penni Conner, senior vice president and chief customer officers at Eversource Energy.
“This is great news for our customers, but we are also mindful of the volatile nature of the energy markets as well as the fact that New England continues to experience higher energy prices compared to most other areas of the country,” added Conner. “Until new energy infrastructure is in place to relieve constraints and to lessen the region’s reliance on natural gas, we can expect to experience these price swings. In the meantime, customers have the opportunity to shop for supply prices; and we offer a wide variety of energy efficiency programs and budget billing and payment options to help them save energy and money.”
In July, the standard service supply charge dropped to 8.23 cents per kilowatt-hour from 12.63 last winter, due in large part to the fact that demand for natural gas is not as high during summer and fall months as it is in the colder months. As a regulated electric delivery company in Connecticut, Eversource purchases electricity from power suppliers and passes the cost, with no profit added, directly to customers who choose to be on the company’s standard service supply option.
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