If you get your electricity through Eversource or United Illuminating you are going to see an increase in their kilowatt per hour costs. The increase was approved by CT’s Public Utilities Regulatory Authority and allows for a one cent increase of the KPH price. The new rates will take effect on Jan. 1 and run through June 30th.
The good news is that these rates are actually lower than the rates for that same time period of this year. The rates will only apply to those who get their energy directly from the providers, not through a third party provider. Eversource’s residential generation rate will increase 9.555 cents and UI’s residential generation rate will go to 10.7358 cents. These generation costs make up about half of the average consumers bill.
New England has some of the highest energy costs in the country and according to Penni Conner, senior vice president and chief customer officer at Eversource Energy, this will not change until we overhaul the infrastructure. Conner says “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.”