Eversource and National Grid Customers Face Rate Hikes

In-Depth Analysis

Eversource and National Grid adjust their electricity supply rates twice a year, in February and August. These adjustments reflect fluctuations in the cost of electricity on the open market. Several factors contribute to these changes, including regional energy supply prices and increased demand during the hot summer months.

In Massachusetts, Eversource's basic electric supply rate will increase from 13.2 cents per kilowatt hour to 14.8 cents. National Grid's basic supply rate will rise from 14.6 cents to 15.4 cents per kilowatt hour. New Hampshire residents will see Eversource rates increase from 8.9 cents per kilowatt-hour to 11.2 cents per kilowatt-hour.

Eversource is also awaiting regulatory approval for additional rate increases, including $454 million for storm preparedness and recovery and $103 million for distribution services. A decision from state regulators is expected by the end of July.

Customers can take proactive steps to manage their energy consumption and mitigate the impact of these rate hikes. Eversource offers financial assistance programs, flexible payment plans, and energy efficiency programs. Reducing energy usage through strategies such as setting air conditioners to higher temperatures and utilizing energy-efficient appliances can also help lower bills.

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FAQ

When do the new electricity rates take effect?

The new rates take effect on August 1st.

Why are electricity rates increasing?

The increases are due to higher energy supply prices and increased electricity usage during the summer months.

How much will my bill increase?

In Massachusetts, Eversource customers can expect an increase of about $13. New Hampshire customers using 600 kilowatt-hours of electricity per month can expect an increase of about $14.

What can I do to lower my electricity bill?

Consider exploring alternative electricity providers, checking for community aggregation options, utilizing energy-efficient appliances, and adjusting your thermostat to save energy.

Takeaways

Electricity rate hikes are coming for Eversource and National Grid customers in Massachusetts and New Hampshire.
These increases are due to higher energy supply prices and increased summer energy usage.
Take action by exploring financial assistance programs, managing your energy consumption, and considering alternative electricity providers.

Discussion

Do you think these rate hikes will significantly impact your household budget? What steps are you taking to reduce your energy consumption? Share this article with others who need to stay ahead of this trend!

Sources

Eversource, National Grid customers face rate hike next week Bills of Eversource customers expected to rise in coming days Electricity costs in N.H. rising during hot summer months of peak usage

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