BERLIN, Connecticut — Eversource announced they had submitted their proposed winter electricity prices to the Connecticut Public Utilities Regulatory Authority (PURA) Thursday.
PURA announced the rate hike to customers and said, while it oversees the "competitive process during which the electricity is procured to supply standard service customers," it does not regulate the electricity market or its pricing.
Prices for electricity typically increase in January and decrease in July.
Eversource customers will see an increase to 8.391 cents per kilowatt-hour, up from the current 7.375 cents per kilowatt-hour. United Illuminating customers will see an increase to 9.369 cents per kilowatt-hour.
Eversource said customers in the state who are signed up for the company’s Standard Service generation rate would see the increase on the supply side of their electric bill beginning January 1.
According to Eversource, the rate increase would be a "direct pass-through cost" to customers for the price of power generation, saying Eversource would not profit from it.
“We recognize the effect higher electricity prices can have on our customers, especially during these unprecedented times with the ongoing COVID-19 pandemic, and we want to help them better manage their energy use,” said Eversource Senior Vice President and Chief Customer Officer Penni Conner. “Like our customers, we have no control over fluctuating energy prices, but the myriad of energy-efficiency programs we offer can help people reduce their usage, tighten-up their homes and keep energy bills down year-round. We also offer various payment arrangements for customers who are having difficulty paying their energy bill, including the COVID-19 payment plan which allows them to pay past-due balances for up to 24 months.”
PURA added the rate hikes show a decrease when compared to others issued in the first half of 2018, 2019, and 2020.
The average residential Eversource customer using 700-kilowatt hours of electricity each month will see an increase of approximately $7.11 per month on the supply portion of their bill, according to Eversource.
Customers can compare UI and Eversource rates to licensed electric supplier's current offer by clicking here.