Eversource Rates Rise In January
Eversource customers are only weeks away from a standard service rate increase. That means you have to shop now if you don’t want to throw good money down the drain. Good thing there are still deals to be had if you shop now for the cheapest electricity rates in town. Here’s what you need to know about how much Eversource will raise standard service rates this January.
How Much Will Eversource Raise Rates?
Last month, Eversource surprised CT customers by filing for a 7.2% rate increase. The announcement came soon after the utility urged their customers to start shopping for 3rd party suppliers.
To put it in perspective, CT customers are paying 8.995 cents per kilowatt-hour (kWh). The average CT home uses close to 700 kWh of energy per month. This means a charge of around $62 on the supply portion of their electricity bill. On January 1, this rate is set to rise to 11.19 cents per kWh. This means the supply portion of your bill would rise to about $78 for 700 kWh of energy. While this is 24% less than last year’s winter rate, it is still a huge rise.
Keep in mind, however, that we may see a late winter La Nina event. While there are no guarantees, La Nina winters could mean higher than average snowfall. As a result, families could spend more time at home and use more energy to stay warm. This would then lead to even higher than normal bills.
Coincidentally, UI customers are facing similar price rises. Right now, they pay 11.9101 cents per kWh. In other words, they would pay around $83 on the supply portion of their bill for 700 kWh of energy. But in January, this rate will rise to 13.57 cents per kWh. In other words, the supply portion of their bill would rise to about $95! However, according to UI estimates, most customer bills will rise by almost $14!
This is why you should shop CT electricity rates while rates are still low.
How to Beat the Eversource Rate Raise
While time is running out, you may be able to find savings if you shop now.
For example, Eversource customers may find the Major Energy Secure Choice 12 plan.. This plan charges a 11.59 cents per kWh (about $81 per month supply charge). While this is higher than Eversource rates, customers can find value with the Major Energy rewards program. This program offers discounts on shopping and dining as well as tree planting bonuses to help the environment.
UI customers might instead discover the Xoom Energy SureLock 12 plan. This plan charges 11.73 cents per kWh. In other words, they would pay about $82 per month in supply charges or $13 less than UI standard service rates. Customers can even find shopping and dining discounts with their rewards program. On top of this, our readers rate Xoom Energy among the top ten best customer service experiences.
Shop Now For Best CT Rates
Eversource customers were warned to shop early for better electricity rates. Now, they are weeks away from a January rate increase. So time is running out to lock in savings for the new year.
But you can still find the best deals in town, if you shop right here at https://www.ctenergyratings.com. You can also visit for the news and tips that could affect your electricity bills.