Eversource initiated the docket in April 2021, and the utilities commission approved a 33 percent rate increase last Thursday, raising the current effective rate of 6.627 cents per kilowatt hour to 8.826 cents per kWh.

Why did eversource rates go up?

Why is this rate changing? As a regulated utility, we purchase electricity from wholesale suppliers on behalf of our customers who are signed up for the standard service rate. We pass this cost to customers with no profit added. Per state regulation, this price changes twice a year – January 1st and July 1st.

Why are ct electric rates so high?

Cold winters and high demand for natural gas contribute to high electricity prices for Connecticut. During winter cold spells, the first users are home heating and industrial customers, and whatever remains is for natural gas generating plants, leading to rising prices, he said.