UI Rate Relief Request Denied
Last month, UI asked the CT PURA for interim rate relief. This would have caused electricity rates to rise this winter in spite of low natural gas prices. However, PURA has denied this request. So let’s dig into why PURA denied the interim rate relief request and what it mean for UI customers.
UI Rate Relief Request
Instead, PURA cut the UI request for a 130.7 million rate hike to a much smaller $23 million hike. UI took PURA to court and in the meantime asked for $14 million in interim relief. UI stated that if they lost the appeal, then the interim rate relief would be returned to customers.
Early this month, PURA declined the request, calling the interim rate relief request “merely a statement about the August decision”. It also noted that the interim rate relief would add an additional 4.6% in distribution charges to the $23 million increase from August. More importantly, PURA noted that UI had not demonstrated sufficient need for the increase for maintaining their grid.
According to Ted Novicki, Director of Regulatory Affairs for Avangrid, UI’s parent company, the Interim Rate Request is essential for maintaining CT’s grid reliability. This reliability came from investments in replacing outdated poles, wires, and transformers. In addition, utilities like UI, must pay to maintain a fleet of vehicles to respond to outages. As a result, Novicki argues, denying the request has ‘closed the books’ on efforts to modernize the CT grid.
Shop Best CT Electricity Rates
As of January 1, UI and Eversource default service rates have risen. UI rates are currently at 17.0625 cents per kilowatt-hour (kWh). Eversource rates rose to 14.714 cents per kWh. Estimates show that CT uses an average of 716 kWh of energy per month. This means the average default supply portion would be about $122 (UI) or about $105 (Eversource) per month.
Direct Energy is worth looking into for the biggest possible savings. Their Live Brighter 9 plan charges 10.89 cents per kWh or about $77 per month on the supply portion of your bill. In addition to saving around $30-$50 per month versus default service, Direct Energy is also ranked as a top five energy company by our readers.
Alternately, Xoom Energy might save you money with their SureLock 12 plan. Their 12.39 cents per kWh rate means an average monthly supply charge of about $88 (almost $20-$40 less than default service). In addition to these savings, customers can also benefit from the shopping discounts offered by their Xoom Energy Rewards Program.
You might also check out the Constellation 36 Month Home Power Plan. Their 12.49 cents per kWh locks in an average monthly supply charge of about $89 for 36 months (also about $20-$40 less than default service). Constellation also sends out energy usage emails to help you meet your energy savings goals.
Keep Watch For Energy Rate Spikes
While the court case resolves, energy shoppers should not wait to shop for better rates. And you can always count on https://www.ctenergyratings.com to make shopping for the cheapest rates a snap. You can also check us out for the news that could affect your bills.