NEW HAVEN, Conn. (WTNH) — Eversource officials announced a new proposed supply rate on Friday that may save customers money on their electricity bill this winter.
Eversource has filed energy supply rates that are 39 percent lower than last winter’s rates with the Public Utilities Regulatory Authority (PURA), saving customers about $46 per month.
This is about 10 cents lower than last winter’s supply rate of 24.17 cents per kWh.
However, there will still be a slight increase from the summer. The current summer rate is 13.82 cents per kWh, meaning the average customer will have to pay about $6 more each month starting Jan. 1, officials said.
“The winter price is all driven by these natural gas generators. They rely on LNG-liquid natural gas,” Eversource Energy Connecticut Electric Operations President Steve Sullivan said.
In 2022, liquid natural gas prices in New England hit historic highs due to several factors that drove the commodity rate up, including Europe entering into the market due to the war in Ukraine.
“They typically get that natural gas from Russia. Last year, they were not able to do that. They went heavy into the LNG market and that spiked last year’s price,” Sullivan said.
According to Steve Sullivan, Eversource president of electric operations in Connecticut, the average customer uses 700 kilowatt hours of power each month and can therefore see a 3.2 percent increase from the current monthly bill.
Eversource filed these new electric supply prices from power generators with Connecticut’s Public Utilities Regulatory Authority (PURA) on Friday and is currently awaiting approval.
Officials said they want customers to be able to get the best prices.
“That’s perfect. The experience last year was horrible, so I’m glad that prices are going down and we can spend ’em in other places,” said Eversource customer Josh Pierson of Berlin.
Eversource said it has also introduced new discounts for low-income families.
Customers who make $41,533 or 60 percent of the state’s median income or less will get a 10 percent discount. Customers who make 160 percent or less of the federal poverty guideline will get a 50 percent discount.
Eversource says residents can visit their local community action center or 211ct.org to learn more about whether they qualify for the discounts.
The company is also reminding families of its forgiveness policy.
“If you’re not in a low-income household we can take your past due balances and spread them over 18 months so you can keep those costs lower so that you can afford your bills during this winter season,” said Jess Cain, Eversource’s president of customer operations and assistance programs.
The company is also reminding customers that they can also save money by locking in a rate with a third-party supplier, by visiting energizect.com.