Eversource And UI Electric Rates To Drop This Summer

If you are one of the many Connecticut residents or businesses struggling with a high Eversource or United Illuminating electric bill, you may be in luck. After a few months of dramatic rate increases, there appears to be some relief in sight for both Eversource and UI customers this summer. Both utilities have filed for lower supply rates to take effect on July 1. The procurement process won’t be completed for several weeks and the actual new rates won’t be finalized until then, but the companies and state consumer counselor Claire Coleman are hopeful that rates will be much lower than what most people are paying now.

Currently, the supply component of eversource ct and UI electric bills have doubled this winter due to the rising price of natural gas that fuels most power plants in the Northeast. While the utilities do not profit from this charge, they have passed it on to consumers. Coleman has urged consumers to consider alternatives.

Since the state deregulated electric service in 2000, it has been legal for homeowners and small businesses to choose their own electricity supplier. While many consumers chose to stay with their utility’s standard service offer, others opted for competitive third party suppliers. For the first nine months of this year, residential UI and Eversource customers who switched to third-party suppliers saved an average of $50 a month or more over the utility’s standard supply charges, according to the Energize CT website. The savings vary depending on when they made the switch and their contract terms, which can range from one to three years.

Consumers can also save by switching to an energy-efficient air conditioner or taking advantage of available discounts on efficiency upgrades and participating in demand response programs. They can also compare rates on the Energize CT website and make a change that will help keep their electric bills low this summer.

Coleman said despite the lower proposed rates, it is important for consumers to remember that they could still see their bills rise in July if they use more power. She urged consumers to take steps to reduce their energy usage and consider reducing the size of their home or business in order to cut down on energy costs.

Eversource and UI have also announced that they are looking into new options for generating electricity, including offshore wind or hydropower from Canada. However, those projects will not be in operation for several years. Even if they are successful, they won’t address the problem of the region’s dependence on natural gas, which is driving the current spike in energy prices. This means that the best way to keep your Eversource or UI electric bills low is by choosing a cheaper supplier. It’s simple, free and easy to do by comparing rates on the Energize CT website. It just takes a few clicks. Just enter your zip code and start saving today! You can even lock in a fixed rate for peace of mind.