Eversource: Customers can expect to see summer energy bills decrease

Press Release

After energy supply prices reached historic highs in New England last year due to natural gas supply constraints following the war in Ukraine and other global pressures, Eversource is letting its customers know they can expect to see a decrease on their bills when the next adjustment to the Standard Service rate takes place in Connecticut on July 1. With energy supply markets in a downward trend, the energy company will file new electricity supply prices it receives from power suppliers with the Public Utilities Regulatory Authority in Connecticut after completing its procurement process as outlined in state regulations.

“We’re pleased to be able to let our customers know that relief is coming following historically high supply prices over the past year,” Eversource Vice President of Energy Supply James Daly stated. “As we finalize the next purchase of the power supply for customers who are signed up for our Standard Service rate, we also recognize that any potential decrease from historic highs will still mean high costs for our customers and urge anyone who may be struggling with their bill to reach out so that we can work together to find the best assistance program or payment plan to help in their individual case.”

The positive news about supply costs for customers comes as international economic factors continue to

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play a significant role in the cost of natural gas, which provides the fuel for the majority of heat and electricity across Eversource’s threestate service area.

While customers can expect a decrease to the supply rate when it changes in each state this summer, the energy company is also informing customers that they should expect continued market volatility and higher supply costs this coming winter.

A customer’s total bill ultimately depends on how much energy is used, and the energy company is also reminding customers that typically usage significantly increases during the summer months when they run appliances like air conditioners to stay cool.

“As we head into the summer months, we advise our residential and commercial customers to take stock of their usage and how it can increase significantly when we run fans and air conditioners to stay cool, while also using other appliances,” said Eversource Executive Vice President of Customer Experience and Energy Strategy Penni Conner. “There are numerous energy efficiency solutions available on our website that can help customers reduce their usage, keeping their bills more affordable.”

In each state of its service territory, the energy supply price for Eversource electric customers changes twice a year, representing the cost that Eversource pays generators for the power that customers use.

Eversource only charges customers what it pays generators for producing the power – it does not earn a profit on the cost of electricity. The timeline and other details of the process differ in accordance with each state’s laws and regulations, contributing to supply prices that vary in line with the broader market in the different areas of Eversource’s service territory. In Connecticut, the Standard Service rate changes every January 1 and July 1. the twenty

Happy Birthday in Heaven, our beautiful daughter and sister. We Love and Miss you so deeply.

Rest in peace, in the arms of the Angels and Fly with the Butterflies.

Love, Mom, Erik, Dad, Michelle and Samantha