NEW BRITAIN, CT – Today, Connecticut’s two electric distribution companies, Eversource and United Illuminating, filed new standard service supply rates that, if approved by PURA, will be effective for six months beginning on January 1, 2024. These new standard service supply rates will result in an increased electric bill for customers using an average of 700 kWh per month by approximately $6.24 and $18.51 respectively. However, as compared to the last winter period spanning January 1, 2023 to June 30, 2023, customers will see significant bill relief this winter season.
“While supply prices are still higher than we’d like for standard service consumers, electricity bills will be more affordable this winter as compared to last winter, and that is a relief” said Consumer Counsel Claire Coleman. “I am pleased that both energy market stability and some procurement process changes that my team advocated for and were ultimately implemented resulted in lower bids in the procurement process. As a state and across the region, there is more work to do in the move toward energy independence to get us to a place where we are no longer beholden to global market whims.”
Comparing this coming change to previous winter months is a more accurate representation because New England depends upon natural gas for both heating and the majority of electric generation, which leads to fuel constraints and elevated costs during the winter months.
OCC wants to highlight that there are currently third-party market options that could be beneficial to take advantage of as compared to standard service rates. The OCC recommends using the newly updated EnergizeCT rate board, which is the most clear and concise way to compare supplier rate offers. The rate board will automatically show the impact on your bill to help you make an informed decision if what you are signing up for will save you money.