Eversource’s residential, small C&I default service rates fell 40% from the Winter 2023 high, but in comparison to 2022 summer rates, prices are still high.
Connecticut’s largest utility, Eversource, has recently submitted its revised default service rates to the Connecticut PURA, set to take effect from July 1, 2023. Let’s break down the changes to make them easier to understand:
Residential (Rate 1) Standard Service Rate:
- From July 1 to December 31, 2023, the EversourceI residential (Rate 1) Standard Service rate will be 13.822¢/kWh. This rate is 42% lower than the current Eversource Rate R1 rate of 24.172¢/kWh.
- However, compared to the same period in 2022, which had rates of 12.050¢/kWh, the 2023 Eversource residential (Rate 1) Standard Service rate is 15% higher.
It’s worth noting that all the Standard Service rates mentioned in this article include the Bypassable FMCC, which is being updated to a credit of (0.170)¢/kWh in July 2023.
As of now, there are several competitive retail suppliers listed on CT Energy Info offering fixed residential plans (not for an ultra-long duration) that are still approximately 15% lower than the new residential price to compare. Additionally, numerous suppliers are providing rates around 1¢ below the new PTC (about 7% lower than the new PTC). Keep in mind that residential supplier offers in Connecticut generally do not have early termination fees.
Eversource small C&I (Rate 30 & 35) Service Rate:
- On January 1, 2023, the Eversource small C&I service rate will decrease by 38% to 14.264¢/kWh from the current rate of 23.031¢/kWh.
- However, when compared to the rates from July 1, 2023, to December 31, 2022, which stood at 12.25¢/kWh, the 2023 Eversource small C&I service rate (Rate 30 & 35) is 16% higher than the same period in 2022.
Stay informed about these rate changes and keep an eye on the evolving energy market to make well-informed decisions that best suit your energy requirements.
Eversource Residential and Commercial & Industrial Rates 2021 through 2023
| Eversource 2021-Present Business Standard Service Generation Supply Rates (cents/kWh) | ||||||
| Rate | 2021 | 2022 | 2023 | |||
| Jan.-June * | July-Dec. * | Jan.-June * | July-Dec.* | Jan.-June * | July-Dec. * | |
| Rate 1 | 8.391 | 7.003 | 11.484 | 12.050 | 24.172 | 13.822 |
| Rate 27 Peak | 10.265 | 8.907 | 12.674 | 14.225 | 25.078 | 16.366 |
| Rate 27 Off-Peak | 7.265 | 5.907 | 9.674 | 11.255 | 22.078 | 12.873 |
| Rate 29 | 8.192 | 6.918 | 10.627 | 12.250 | 23.031 | 14.264 |
| Rate 30 | 8.192 | 6.918 | 10.627 | 12.250 | 23.031 | 14.264 |
| Rate 35 | 8.192 | 6.918 | 10.627 | 12.250 | 23.031 | 14.264 |
| Rate 37 Peak | 10.265 | 8.907 | 12.674 | 14.255 | 25.078 | 16.366 |
| Rate 37 Off-Peak | 7.265 | 5.907 | 9.674 | 11.255 | 22.078 | 13.366 |
| Rate 40 | 8.192 | 6.918 | 10.627 | 12.250 | 23.031 | 14.264 |
| Rate 41 Peak | 10.353 | 8.995 | 12.712 | 14.352 | 25.175 | 16.366 |
| Rate 41 Off-Peak | 7.353 | 5.995 | 9.712 | 14.352 | 22.175 | 13.153 |
| Rate 55 Peak | 10.353 | 8.995 | 12.712 | 14.352 | 25.175 | 16.153 |
| Rate 55 Off-Peak | 7.353 | 5.995 | 7.353 | 11.352 | 22.175 | 13.153 |
| Rate 56 Peak | 10.353 | 8.995 | 10.353 | 14.352 | 25.175 | 16.153 |
| Rate 56 Off-Peak | 7.353 | 5.995 | 9.712 | 11.352 | 22.175 | 13.153 |
| Rate 116 | 8.574 | 6.759 | 11.086 | 12.495 | 25.453 | 14.242 |
| Rate 117 | 8.574 | 6.759 | 11.086 | 12.495 | 25.453 | 14.242 |
| Rate 119 | 8.201 | 6.862 | 10.529 | 12.200 | 23.002 | 14.021 |