Public Service seeks rate hike; blames energy costs
Public Service of New Hampshire announced on Friday that it would ask regulators to approve an energy charge of 9.23 cents per kilowatt hour, effective Jan. 1, an increase of .61 cents per kwh from the current rate of 8.62 cents.
"The updated rate appears to be in line with what is occurring with the region's utilities, largely as a result of higher energy market prices," said PSNH spokesperson Mike Skelton.
The other two regulated utilities previously offered default rates that were equal to or lower than competitive rates, but they, too, are now likely to lose energy supply customers due to rate hikes approved late this year.
Volatile natural gas price
The state's two largest competitive suppliers are offering lower rates than all three regulated utilities. ENH Power is offering a "Long Saver" rate fixed at 8.70 cents per kwh for 24 months. North American Power is offering a 7.99 cent six-month fixed rate, and a 7.69 cent 12-month fixed rate.
PSNH is the only regulated utility in the state that also operates power plants, the cost of which is built into the PSNH energy charge. About one penny of the PSNH energy supply charge is associated with cost-recovery on more than $422 million spent on mercury scrubbers at the Merrimack Station coal-fired plant in Bow.
Speaking at the N.H. Business and Industry Association Energy Seminar last week in Manchester, Jim Shuckerow, director of energy supply for Northeast Utilities, predicted there would be no new "iron in the ground" into New England until 2020, with natural gas prices expected to continue to rise from their 2012-2013 low-water mark between now and then."Perhaps 2013 will be recalled as the good old days of power-supply pricing," he said.
READER COMMENTS: 9
- Bad Joe: Levasseur stalls again - 2
- Good Joe: Kenney for Executive Council - 1
- Insurance exchange: NH Dems, GOP switch sides - 2
- Bottle store blues: The useless grocery mandate - 2
- Finding city revenue: Seek more private partners - 0
- Putin's freedom: Obama's weakness - 42
- Safe seats, frequent flyers - 0
- Sports volunteers: Eric Mommsen embodies the spirit - 0
- Issa drops in: Doesn't match media slant - 1
READER COMMENTS: 0
- Pair rescues dog from frozen Raymond river - 0
- Police seek robber of Nashua convenience store - 0
- Exeter police say man briefly suffocated 3-year-old girl - 0
- Pilot safe after crash landing on Alton ice runway - 0
- NHIAA Boys' Basketball: Merrimack survives scare - 0
- NHIAA Tournament Roundup: Central breaks away from Exeter - 0
- College Hockey: Dartmouth drops tournament opener - 0
- FEMA OKs $8m for repairs in Lincoln, Lebanon - 0
- Official says Manchester lost out on $1.5m for cell tower court has now ordered built - 7
Blue shame: Obamacare's big change
Ted Siefer's City Hall: It was all about chickens, alleged threats and nocturnal wanderings
Planned Parenthood funds S&M Web video
NH delays enforcing liquor warehouse pact
Roger Simon: How would Hillary handle Putin?