Lower Electric Rates

May 28, 2015

Great news for consumers! The House and Senate have approved electric rate reforms that will aid consumers and businesses. The package of reforms is made up of two bills (SB 573 and SB 575).

SB 573 bans deceptive and unpredictable variable rate electricity contracts for residential electric generation service. Some providers use cheap “teaser” electric rates to lure customers into short-term contract rates that balloon shortly thereafter. Seniors and other vulnerable citizens are often the targets of these bait-and-switch rates.

SB 575 increases the number of public hearings, from one to three, state regulators must hold when a utility seeks a rate or fee increase.

RATES DROP IN JULY

The state Public Utilities Regulatory Authority approved a drop in electric rates for residential and business customers who take Standard Service generation price. On July 1, Eversource’s residential rate will drop from 12.629 cents per kilowatt-hour to 8.228 cents/kWh. PURA says the average Eversource customer will save approximately $33 per month.

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