Eversource rates may be dropping over the next six months.
The company has filed a proposed supply rate with the state Department of Public Utilities that is 26 percent lower than the current rate. If it’s approved, Eversource customers in western Mass. who are on the company’s Basic Service supply option will see the savings on their electric bill beginning this month.
Eversource was able to secure the lower six-month price for customers due to a drop in wholesale power prices,the company reported in a press release.
The proposed supply rate is 7.708 cents per kilowatt-hour, down from the current rate of 10.426 cents.
The decrease will result in a monthly savings on the supply charge of $16.31 for residential customers using an average of 600 kilowatt-hours of electricity.
As a regulated delivery company, Eversource purchases electricity from suppliers and passes on the cost, with no profit added, directly to customers on the company’s Basic Service supply option. All customers also have the option to purchase electricity from competitive suppliers.
Also effective this month will be an increase in the rate used to fund statewide energy-efficiency programs.
The increase of 0.957 cents per kilowatt-hour will add $5.74 to the average monthly bill. These programs are available to all customers.
The combined effect of the changes in the supply and energy efficiency charges will result in an overall decrease of $10.57 a month. Total monthly residential bills for 600 kilowatt-hours of electricity will decrease to $112.20 from $122.77, or 8.6 percent.