Eversource Energy has filed with PURA to reduce customer electric rates
Eversource Energy announced Friday that electric rates to customers should be decreasing by July 1.
The company filed with the Public Utilities Regulatory Authority to pass its savings on to customers as electricity prices have dropped to historic highs. If approved, the average supply rate for standard service customers will drop from the current 12.42 cents per kilowatt-hour to 8.25 cents, a savings of almost 20 percent.
This means an average residential customer using 700 kilowatt-hours monthly will see a reduction of almost $31 in their monthly bill, the company estimates.
“The historically high prices we have been paying to electricity generators have made this a very difficult winter for most customers in the region,” said Penni Conner, senior vice president and chief customer officer at Eversource.
“With prices now falling back to levels even better than a year ago at this time, we’re thrilled to pass along the savings to our customers at the time of year when air conditioner use will be at its peak,” Conner said.