Boston - Eversource has filed a proposed electricity supply rate with the Department of Public Utilities that is nearly 12 percent lower than the current rate. If approved, Eversource customers in Eastern Mass. who are on the company’s Basic Service supply option will see the savings on their electric bill beginning July 1. Eversource secured the lower six-month price for customers thanks to a reduction in wholesale power prices.
“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.”
The proposed supply rate is 11.397 cents per kilowatt-hour, down from the current rate of 12.888 cents. The decrease will result in a monthly savings on the supply charge of $8.20 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. All customers also have the option to purchase electricity from competitive suppliers. The Mass. Department of Public Utilities licenses competitive suppliers within the commonwealth and maintains a list of current offers available from them.
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 $129.25 from $137.45, or a decrease of about 6 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. 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,” added Conner.
For energy efficiency tips and information about the many programs available to help lower energy use, Eversource customers can visit the Save Money & Energy section of Eversource.com.