Connecticut Eversource & UI will see Higher Energy Prices this Winter | PremierImprovementsOne.com
Updated: 18 hours ago
Customers of state utilities will see increased electricity prices this winter.
Eversource reported Friday that a residential customer who uses 700 kilowatt hours of power per month, could see an average 21% increase in their monthly bill. This is compared to the current $31/month cost.
Eversource is the provider for most Connecticut customers. Customers of United Illuminating will see a $19 monthly increase in their monthly bills.
Katie Dykes, Commissioner for the State Dept. Commissioner Katie Dykes, State Department.
The amount a customer pays will depend on how much energy they use, their rate category and the weather during heating season.
Both companies insist that they don't make any profit from the charge. The money goes to energy generators.
The decline in volatility of energy prices is now less. Governor Ned Lamont stated that policy changes such as investing in offshore wind and locking in prices for nuclear power have made a difference.
Lamont stated that "Today, with high prices for natural gas, this is an excellent deal, and the carbon-free, nuclear power is subsidizing you bills."
The cost of natural gas and gas is a major factor in energy prices. These prices are high because of global pandemic demand. You can expect to pay as much as 20% more if you heat your home using gas.
Commissioner Dykes stated, "Some customers enjoy to buy through third-party vendors. They can shop around and find deals.
United Illuminating customers will experience a 17% increase on electricity prices compared to last year. Officials state that they are available to assist customers in managing their electricity use and costs.
Through July, the higher rate will continue. Prices are adjusted by state law twice per year. Good news is that electricity and heat cannot be shut off by law until May.
Customers get a credit of $65 million from Eversource after a settlement was reached with them over their failures during Storm Isaias.
Marissa Gillette is the chairperson of the Public Utility Regulatory Authority. She explained that this results in a consumer receiving $35 worth of credit.
According to the state's Office of Consumer Counsel, rates were higher six years ago.
"We are very sensitive to the impact this will have on our customers still dealing with the COVID-19 epidemic. "Unfortunately, the world is such that energy prices are likely to continue rising and staying high for some time," stated Penni C