SPRINGFIELD, Mass. (WWLP) – If you’re an Eversource Energy customer, the cost to keep your home cool for the summer won’t be so stifling this year.
The utility company has filed a proposal with state regulators for a 26% reduction in their customers’ basic supply rate. Eversource spokesperson Priscilla Ress told 22News that for an average customer who uses 600 kilowatt hours of electricity per month, their bill will go down about $16.31.
That savings, however, will be somewhat offset by an increase in the rate used to fund state energy efficiency programs. That increase will add $5.74 to that same average customer’s bill, so the overall savings drops to $10.57 per month.
The supply rate is your portion of the electric bill that deals with the cost of generating the power. Eversource Energy does not actually run power plants, rather they run the distribution network that delivers that electricity to homes and business- therefore they do not profit from this portion of your bill. With fluctuations in the price of generating power, supply rates have gone up and down in recent years.
The rate they are proposing would be 7.708 cents per kilowatt hour; down from the current 10.426 cents, and is nearly half of the 14 cent rate that customers were paying in early 2015.
If approved by the Department of Public Utilities, the rate change would take effect on July 1.