BERLIN -- Starting Wednesday, July 1, Eversource customers will see a drop in what they pay for the supply side of their monthly electric bill. Customers will save about 20 percent monthly.
The average supply rate for customers will decrease from the current 12.42 cents per kilowatt-hour to 8.25 cents, a savings of almost 20 percent. This means an average residential customer using 700 kWh monthly will see a reduction of almost $31 in their monthly bill. The new rates will remain in effect through December 31.
The company said the cost of generating electricity is cheaper, allowing them to decrease the burden on customers. Eversource purchases electricity from wholesale suppliers, and those costs are passed directly to them with no profit to the company.
United Illuminating rates will also drop by nearly one-third, to 9.1241 cents from 13.3108 cents.
