Eversource said they plan to take steps to lower energy supply rates for customers, and people can expect to see decreased rates starting July 1.
The electric company says energy supply rates reached historic highs in New England last year due to natural gas supply constraints caused by the war in Ukraine and other global pressures.
"We're pleased to be able to let our customers know that relief is coming following historically high supply prices over the past year," said Eversource Vice President of Energy Supply James Daly.
An Eversource spokesperson said they plan to file new electricity supply prices that they receive from power suppliers with the Public Utilities Regulatory Authority (PURA). Energy supply rates for customers change twice a year, and Eversource said they "only charge customers what [they] pay generators for producing the power - [they] do not earn a profit on the cost of electricity."
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The spokesperson said international economic factors continue to play a significant role in the cost of natural gas. Supply rates are still expected to decrease.
“...We also recognize that any potential decrease from historic highs will still mean high costs for our customers and urge anyone who may be struggling with their bill to reach out so that we can work together to find the best assistance program or payment plan to help in their individual case," Daly said.
Eversource is reminding customers to take stock of their electric usage, warning it can "increase significantly when we run fans and air conditioners to stay cool, while also using other appliances."
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"Now is also the time for customers to think about their energy spending not just for this summer, but the fall and winter to come," said Eversource Vice President of Customer Experience and Energy Strategy Penni Conner.
While costs are expected to decrease come July, Eversource expects supply rates to increase again this winter.
Customers who need help with their energy bill is encouraged to enroll in one of the company's payment plans or assistance programs. More information about bill help can be found here.
Eversource said they will file the July 1 rates with PURA in mid-May and the new rate will be announced at that time.
