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16% Increase in Eversource's July 2023 Connecticut Residential and Small C&I Default Service Rates

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.

Eversource Rates
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 

 

 

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