Electricity rates are dropping for residents across the state who get service from Eversource and United Illuminating.
As of July 1, rates will go down by around $20.
The Public Utilities Regulatory Authority approved the new Generation Service Charge rates on Tuesday and said this will affect residential and business customers who get standard service generation from Eversource Energy and the United Illuminating Company. The new rates go into effect on July 1.
Eversource said the average user will save about $21 per month, based on an electricity usage of 700 kilowatt hours per month.
Eversource's residential generation rate will decrease from 9.555 cents per kilowatt-hour to 6.606 cents/kWh.
UI's residential generation rate will decrease from 10.7358 cents per kilowatt hour to 8.0224 cents, which would save customers who use an average 700 kilowatt hours per month around $19 per month.
“We are very excited to share such positive news with our customers,” Penni Conner, senior vice president and Chief Customer Officer at Eversource, said in a statement. “These are the lowest generation prices in over a decade and are coming at the time of year when customers are increasingly using more energy to cool their homes and businesses.”
The new rates will be in effect through the end of 2016, marking a nearly 20 percent reduction compared to the Eversource summer cycle rates from July to December 31, 2015, according to PURA. UI rates will decrease by 12 percent compared to the 2015 summer cycle.
Around two-thirds of Connecticut’s residential customers receive Standard Service generation from Eversource and UI.
Other residential customers get electricity from licensed electric suppliers, whose rates might be more or less.
You can compare UI and Eversource Standard Service generation rates to licensed suppliers' offers on Connecticut's official generation rate board.