Eversource, UI customers could pay significantly more per month

Dylan talks with Marc Hanks with Direct Energy about switching providers.
Published: Nov. 17, 2022 at 1:27 PM EST|Updated: Nov. 18, 2022 at 7:39 AM EST
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(WFSB) – Eversource and United Illuminating customers may have to shell out more money for their electricity bills.

Eversource customers could pay about $85 more on their monthly bill if the company’s proposed rate hikes are approved.

U.I. customers could see an increase of just over $79.

The proposals came as energy supply prices were expected to reach historic highs this winter.

Eversource said it filed new supply prices with Connecticut’s Public Utilities Regulatory Authority (PURA) on Thursday.

Customers would see an increase on the supply section of their bill, according to Eversource.

Eversource and U-I want you to pay double proposing major rate increases.

If the supply prices are approved by PURA, Eversource customers’ supply would go from 12.1 cents per kilowatt-hour to 24.2 cents per kilowatt-hour.

Eversource said the average customer, who uses about 700 kilowatt hours each month, will see an increase of about 48% to their bill, or $85.

“It makes budgeting even harder. My dad is always trying to find a new job that pays more just because prices keep going up,” said Joe Ensign, Rocky Hill Resident.

Eversource is explaining the reasoning behind its proposed rate hikes.

The supply charge was 11.5 cents per kilowatt-hour last winter.

Eversource said the rate hikes are because energy prices continue to rise globally.

“When Eversource and United Illuminating went out to buy electricity for the standard service rate they had virtually no bidders. None of the power plants wanted to bid. So they have to provide it. They took the bids that were the best and the best was not really good,” said State Senator Norm Needleman, Senate Chair of the Energy & Technology Committee.

For U.I. customers, the price would go from about 11 cents per kWh to just under 25 cents.

The new supply prices would take effect from January 1, 2023 to June 30, 2023.

With the rate hikes at Eversource, many might go without electric unless you make a change.

Mark Hanks with Direct Energy said that consumers should be actively looking into making a switch. You can see the numbers by checking out the rate board at energizect.com.

“We believe we are part of the solution,” Hanks said.

People were furious with the proposed hike- so switching providers was definitely a good option for Eric Lopkin.

He’s done it before- and checks the rates every couple of months.

“The last time we switched we were able to save about 100 dollars a month,” said Lopkin.

He’s considering Direct Energy and Constellation- both with much lower rates than what Eversource is proposing. There are also fixed plans – so you could be locked in for 3 years.

“In Connecticut, the energy supply price changes twice a year, January 1 and July 1, 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,” said Eversource.

“It’s very hard. I’m really shocked that Eversource is going to try and raise their rates again. To me, that’s just asinine,” said Sheila McMullan of South Windsor.

“It’s gonna be a case of shall I heat the house, or buy food,” said Eugene McMullan.

Eugene and Sheila are retired seniors on a fixed income.

They and many other customers feel their Eversource bills are already too high.

“It’s ridiculous. It’s going to get to a point where people are not going to be able to afford it and people will lose their electricity,” said Eugene.

The state’s two biggest energy providers say because the war in Ukraine is driving up how much they pay for energy, customers should pay more in the new year.

“Because of the turmoil in Europe, we have seen a significant increase, about a 100-percent increase in the supply price,” said Jared Lawrence, Senior Vice President and Chief Customer Officer for Eversource.

“This is about the price of natural gas and there isn’t a lot, just being honest, that I can do about the price of natural gas in the market,” said Attorney General, William Tong.

In a statement, Attorney General William Tong said:

Eversource customers have the option to buy their power from state approved third-party suppliers to save money.

Energizect.com allows you to compare which company is offering a better price.

“Be careful you know what you are buying. Be careful you know what the fine print says. Be careful you are not signing up for a teaser rate that in a few months you lost that and then pay a much higher price,” warned Attorney General Tong.

People can also apply for Connecticut assistant programs or a winter protection plan through your supplier which protects your energy from getting shut off.

For information on cost assistance programs, click here.

Eversource customers could pay about $85 more on their monthly bill if the company’s proposed rate hikes are approved.
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