Regulators Compromise Final Decision Lowers Electric Rates In CT
Big Changes Are Coming To Your Electric Bills In CT
State utility regulators this week agreed to lower electricity rates for Connecticut’s two major utilities.
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CONNECTICUT — Electricity customers in Connecticut are heading into the warmer months feeling the effects of a cheaper compromise that will take effect next month.
This week, the state Public Utilities Regulatory Authority unanimously approved a rate adjustment that will reduce the typical monthly bill by $13 for customers of Eversource Energy and by $3 for those who get their electricity from United Illuminating.
PURA’s vote came Tuesday and the rates are effective for the latest regulatory period — May 1 of this year through April 30, 2026.
The savings quotes are based on the “average” usage of 700 kilowatt hours each month. Cranked-up air conditioners could push the bills higher, officials maintain.
The move represents a sizable compromise between Eversource and state regulators. Eversource had proposed returning $275 million in credits to customers (or $15 a month on average) and, in March, PURA’s commissioners countered with a figure of $42 million in a draft decision.
The final decision by PURA landed at $142 million for the respective savings for both utilities at $13 and $3.
The decrease in state electric rates was, in part, attributed to a more favorable purchase climate at both of New England’s nuclear power plants — Seabrook in New Hampshire and Millstone in Waterford.
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Connecticut electric rates over the next year, driven largely by more favorable conditions surrounding the purchase of power from New England’s two nuclear power stations.
In September, PURA could decide to make another adjustment.