Energy Costs Rising
On August 1, Eversource electric customers will see a significant rate increase on the supply portion of their bill. (The increase does not apply to customers on competitive suppliers). The energy rate will more than double, from 10.669 c/kWh to 22.566 c/kWh. This will result in a 50% or $67 increase in the total bill of a customer using 600 kWh a month.
As you may already be aware, this significant rate increase is due to record-high natural gas prices and energy supply pressures from the global economy. The New England region is particularly affected by the energy supply volatility because natural gas is the primary fuel for generating electricity in the region.
Today’s higher energy prices, driven by factors beyond the State of New Hampshire and Eversource’s control, create challenges for all customers. The State of New Hampshire is exploring a number of initiatives that would provide some financial assistance to New Hampshire customers this fall and winter.
We are encouraging customers (residential and business alike) to:
- carefully manage their energy use this summer
- shop for a competitive supplier and recommend that they compare energy prices (a list of registered energy suppliers can be found on the NH Dept. Of Energy website)
- act now to prepare for winter as energy prices are expected to remain high in the near term.
Talk to your energy provider about possible budget billing to help avoid seasonal spikes, etc.
Contact your SBDC advisor to discuss ways to manage your energy use and use renewables.