After a winter of skyrocketing energy prices, some relief could be ahead as utilities in New Hampshire plan to cut their electric supply rates.The new rates would take effect Aug. 1 and last through Jan. 31. Experts said prices could go up again after that because the energy market is volatile.In New Hampshire, the energy supply price for Eversource and Unitil changes twice a year. Eversource said Thursday that if approved by the New Hampshire Public Utilities Commissions, its new rate for residential customers would drop more than 37%.The effect on a customer’s total bill would depend on how much energy is used, their rate category and the weather. Similarly, Unitil said the average customer would see a decrease of $76. New Hampshire consumer advocate Donald Kreis said he expects other utilities to lower their rates, as well. He said changes in the market allow for lower prices.”The wholesale price of natural gas around the globe is what tends to drive the price of electricity at wholesale in New England, and so the natural gas price comes down, the price that wholesale producers of electricity are bidding to our utilities has come down, and so the utilities were able to capture some wholesale prices that they’ll be passing along to customers,” Kreis said.On average, energy use increases 25% during the summer, so customers are urged to take advantage of energy-efficiency programs to reduce electricity use.Consumer advocate Donald Kreis answers questions about energy prices:
After a winter of skyrocketing energy prices, some relief could be ahead as utilities in New Hampshire plan to cut their electric supply rates.
The new rates would take effect Aug. 1 and last through Jan. 31. Experts said prices could go up again after that because the energy market is volatile.
In New Hampshire, the energy supply price for Eversource and Unitil changes twice a year. Eversource said Thursday that if approved by the New Hampshire Public Utilities Commissions, its new rate for residential customers would drop more than 37%.
The effect on a customer’s total bill would depend on how much energy is used, their rate category and the weather.
Similarly, Unitil said the average customer would see a decrease of $76.
New Hampshire consumer advocate Donald Kreis said he expects other utilities to lower their rates, as well. He said changes in the market allow for lower prices.
“The wholesale price of natural gas around the globe is what tends to drive the price of electricity at wholesale in New England, and so the natural gas price comes down, the price that wholesale producers of electricity are bidding to our utilities has come down, and so the utilities were able to capture some wholesale prices that they’ll be passing along to customers,” Kreis said.
On average, energy use increases 25% during the summer, so customers are urged to take advantage of energy-efficiency programs to reduce electricity use.
Consumer advocate Donald Kreis answers questions about energy prices:
Read More: NH utilities propose lower electricity rates