Eversource residential customers should see electricity bills dropBy MICHAEL COUSINEAU
New Hampshire Union Leader
February 23. 2018 11:19AM
MANCHESTER — Eversource residential customers should get a break on monthly electric bills — at least for four months.
An average customer using 600 kilowatt hours a month would see their bill drop by $9.30, or 7.5 percent, from $123.64 to $114.34 if the state Public Utilities Commission approves the lower rate.
The reduced energy charge — and thus overall bills — will be in effect from April 1 to July 31.
The change is a benefit in the cost of purchasing power since Eversource shifted to buying power from the wholesale energy market after selling its power generating plants.
Eversource’s rates will be adjusted twice a year, on Aug. 1 and Feb. 1.
“Going forward, we expect to smooth out price volatility by separating the two highest cost winter months, January and February,” Eversource spokesman Martin Murray said.
“Our customers are free to buy energy from anyone,” Murray said. “This is the rate to those customers who purchase energy from Eversource.”
Twice a year, Eversource will issue a request for proposal to the wholesale energy marketplace seeking the lowest price for a six-month period. The PUC must review and approve it.
“Moving forward, we will purchase energy from the competitive markets, and we expect our costs to be in line with those paid by the other New Hampshire electric distribution companies,” Eversource New Hampshire President Bill Quinlan said in a statement.