Electric rates are expected to drop this summer, according to filings from Eversource and United Illuminating submitted to the Public Utilities Regulatory Authority on Wednesday.
For Eversource customers receiving the standard service rate, the supply-side rate should drop by about 22% on July 1, according to the filing.
The supply charge is based on the cost of producing electricity and represents about 45% of customers’ bills. Eversource has more control over the delivery-side charge, which includes the cost of delivering electricity to customers’ homes and businesses.
Eversource’s rates doubled from 12.1 cents per kilowatt-hour to 24.2 cents per kilowatt-hour over the winter, as the ongoing war in Ukraine tightened the supply of natural gas.Â
The rate decrease will result in the average Eversource customer seeing their monthly bill drop by about $56.
United Illuminating is also requesting a rate decrease, which should result in the average standard service customer saving about $28 per month.
