Northeast Utility Energy Price Increases
We’ve all seen some degree of inflation in recent months. Gas prices—up. Food prices—up. Construction materials—up. Automobile prices—up. You can probably name many more services and products that have had some level of price increase. But what we’ve seen is just the tip of the iceberg.
Many utility companies have filed with their Department of Public Utilities or Public Utilities Commission to have energy rate increases beginning either on Dec 1, 2021 or Jan 1, 2022. And some of these rate increases will be substantial.
These are not just proposed rate hikes. They have been filed and approved.
These are some of the rate hikes we KNOW are going to happen in some deregulated states:
CONNECTICUT LIGHT AND POWER
Connecticut Light & Power filed for a 54% rate increase for commercial and industrial electricity service rates to go into effect January 1, 2022. Rates will go from 6.918 cents per kWh to 10.627 cents per kWh.[1]
PPL—PENNSYLVANIA
On December 1, 2021, PPL electricity rates for commercial and industrial service will go up 36% from 7.541 cents per kWh to 10.285 cents per kWh.[2]
EVERSOURCE ENERGY—MASSACHUSETTS
Western Massachusetts NSTAR, doing business as Eversource Energy, filed with the Massachusetts Department of Public Utilities to raise commercial and industrial electricity service rates on January 1, 2022. Rates will go from the current rate of 8.936 cents per kWh to 13.006 cents per kWh. This will be a 46% rate hike.[3]
MAINE PUBLIC UTILITIES COMMISSION
Maine Public Utilities Commission has posted new Standard Offer electricity supply rates for medium-size businesses who are Bangor Hydro District Customers. These rates are a 77.7% increase over current rates for medium-size businesses. This will begin on January 1, 2022.[4]
Additionally, small business rates will increase 88%. Rates go from $0.061960 / kWh to $0.116840 / kWh on January 1, 2022.
RHODE ISLAND
Rhode Island electricity rates are going up.
The current rate is 10.174 cents per kWh. January 1, 2022, rates will go up for commercial and industrial to 11.384 cents per kWh.[5]
NEW HAMPSHIRE
Unitil Energy Systems, Inc has filed new electricity rates with the New Hampshire Public Utility Commission that are to begin Dec 1, 2021. For Commercial customers rates go up over 150% from the current rate of $0.05992 per kWh to $0.15381 per kWh.[6]
What does this mean for you if you are in these territories or others with rate increases locked in?
Consumer Energy Solutions works with commercial customers in deregulated states. We work with the top suppliers in the industry, and we compare prices and get you the best energy rate in the current market. The current market prices are LESS than they will be in December and January—so even if you aren’t quite ready to renew, call us today for a free quote and to see how we can help you. 1-866-748-2669.
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