New Hampshire’s largest electricity provider, Eversource, has announced significant rate increases effective August 1, which are expected to impact residents during the high-energy summer months. Rates will rise from 8.9 cents per kilowatt-hour to 11.2 cents, a hike of approximately 26%. For an average household consuming 600 kilowatt-hours monthly, this will result in an additional $14 on their electricity bills.
State regulators are currently reviewing other requested rate increases from Eversource, including $454 million aimed at storm preparations and recovery, along with $103 million for distribution services. A decision regarding these proposals is anticipated by the end of July.
Eversource has attributed the increase largely to escalating energy supply prices driven by current market conditions. The demand for electricity typically surges in the summer, with households increasing their usage by about 20% to power air conditioning and other cooling appliances, often leading to even higher consumption during heatwaves.
Between April and June, the average residential bill hovers around $121 per month but climbs to about $153 from July to September based on historical data from Eversource. To ease the financial burden on customers, the company is offering various financial assistance programs, flexible payment options, and energy efficiency initiatives.
Consumer advocate Don Kreis commended Eversource for being proactive in informing customers, despite acknowledging that the company aims to mitigate potential backlash from the substantial increases in distribution service rates. In efforts to educate customers further, Eversource will conduct a webinar and an in-person presentation at the Nashua Public Library.
The electricity rate increases present a challenge for many households, but resources are available to aid those struggling with the uptick in costs. Eversource’s initiatives to support their customers highlight a commitment to mitigating the financial impact of these changes.