Eversource Lowers Electricity Supply Rate

HYANNIS – Eversource customers who are on the company’s Basic Service Supply option are seeing savings on their electric bill after the Department of Public Utilities approved the energy company’s proposed electricity supply rate that is 21 percent lower than the previous rate. 

Eversource secured the lower six-month price for customers thanks to a reduction in wholesale power prices.

The rate took effect on July 1. 

“We’re pleased to be passing along a summertime price cut to our customers who get their electricity supply through our Basic Service option,” said Eversource Senior Vice President and Chief Customer Officer Penni Conner.

“This reduction will come just in time to help customers who use air conditioning to cool their homes and businesses during the hottest days of the year. It will also help those customers experiencing financial hardship due to COVID-19.”

The supply rate is 9.877 cents per kilowatt-hour, down from the previous six-month rate of 12.517 cents per kilowatt-hour.

The decrease will result in a monthly savings on the supply charge of $14.52 for residential customers using an average of 550 kilowatt-hours of electricity.

As a regulated delivery company, Eversource purchases electricity from suppliers and passes on the cost, with no profit added, directly to customers on the company’s Basic Service supply option.

Effective with the July 1 Basic Service supply price change, average monthly residential bills for 550 kilowatt-hours of electricity in Eversource’s eastern Massachusetts service area will go to $124.53 from $135.77, or a decrease of about 8 percent on the total bill.

Eversource reminds its customers that energy efficiency is the single most effective way to take control of their year-round energy costs.

“We’re number one in the nation in energy efficiency,” said Conner.

“Even with the drop in the price of electricity, our customers can take advantage of deeper savings by making full use of the programs available to them.”

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