Press Release: 2023-11-20

Eversource Encourages Customers to Take Control of Their Energy Costs Before Winter Prices Take Effect

 



NOV 17, 2023



ENERGY SUPPLYENERGY COSTSWINTERBASIC SERVICERATESASSISTANCEENERGY BILLS



 



BOSTON and SPRINGFIELD, Mass. (November 17, 2023) – As energy market volatility continues, Eversource customers can expect to pay less this winter than last on the supply portion of their electric bill. Energy prices hit historic highs in New England last year due to international factors that affect the seasonal cost of natural gas, which is used to produce roughly half of New England’s electricity. The energy company has filed new electric supply prices from power generators with the Massachusetts Department of Public Utilities (DPU) that would be 33% lower for residential customers in Eastern Massachusetts and 28% lower in Western Massachusetts compared to last winter. 



If approved by the DPU, the Basic Service Rate for residential customers in Eastern Massachusetts would change from the current 16.08 cents per kilowatt-hour (kWh) to 17.25 cents per kWh, compared to 25.78 cents per kWh last winter. In Western Massachusetts, residential customers on Basic Service would see a change from 14.85 cents per kWh to 15.85 cents per kWh, compared to 21.99 cents per kWh last winter. In addition to the Basic Service Rate change, there are other slight adjustments on the delivery side of the bill to support grid modernization and energy efficiency also expected to take effect on January 1. 



“We are pleased to see lower supply rates this year after experiencing big winter price spikes the last couple of years, and we want to remind our customers that we still have payment assistance programs and nation-leading energy efficiency resources available to help them manage their bills and energy use,” said Eversource Executive Vice President of Customer Experience and Energy Strategy Penni Conner. “This change will not apply to many of our customers in Massachusetts, who are already signed up for a municipal aggregation program through their cities and towns or with a competitive electric supplier. These options can save customers money and we encourage them to explore each as long as they read the contract information carefully and understand the terms.”



If the proposed Basic Service Rate is approved by the DPU, on average, an Eversource residential electric customer who uses 600 kilowatt hours of power each month could see an increase on the supply portion of their bill of approximately $7 or 4% in Eastern Massachusetts and $6 or 3% in Western Massachusetts. That is a decrease compared to last winter of about $51 or 20% in Eastern Massachusetts and $36 or 16% in Western Massachusetts on the supply portion of their bill.



The energy supply price changes twice each year and represents the cost that Eversource pays generators for the power that customers use. Eversource only charges customers what it pays generators for producing the power – it does not earn a profit on the cost of electricity. How much a customer pays will ultimately depend on how much energy is used, their rate category and weather conditions. 



This change only affects customers on the Eversource Basic Service Rate – or approximately 24% of customers in Eastern Massachusetts and 63% in Western Massachusetts, and not those who receive their electric supply through municipal aggregation programs or a third-party competitive supplier.



Help is available for customers who need it



Eversource encourages customers to enroll in one of its payment plans or assistance programs if they need help with their energy bill by calling 866-861-6225 (Eastern Massachusetts) or 877-963-2632 (Western Massachusetts), or visit Eversource.com/BillHelp to find the right plan for them and enroll online.




  • The New Start Program can help income-eligible, electric and gas customers reduce or eliminate their outstanding balance in as little as 12 months when they make on-time monthly payments and Eversource will make up the difference by eliminating or forgiving a portion of the total balance enrolled in the program – reducing the amount owed each month.

  • Flexible Payment Plans are available to all customers, regardless of income, to pay their past-due balance over a period of time.

  • Budget Billing Plans are also available and can help customers avoid seasonal spikes on their energy bill by paying a fixed amount each month based on their average annual usage.

  • Discount Rate is available to customers receiving public assistance benefits and have a household income at or below 60% of the state median income. These customers may be eligible for a 42% discount on their monthly electric bill or a 25% discount on their monthly natural gas bill.



Additionally, customers can explore the award-winning energy efficiency programs, rebates and seasonal tips offered by Eversource, a Sponsor of Mass Save, to help reduce their energy use.



Due to a recent DPU order aimed at reducing the volatility of electric supply costs between rate periods—which was supported by Eversource—the new electric supply prices from power suppliers will be in effect from January 1, 2024, through July 31, 2024. As part of the transition to the new schedule under the DPU order, this will be a one-time seven-month rate period, and changes to the supply rate will happen every August 1 and February 1 thereafter.



This year, many municipal aggregation plans are up for renewal and Eversource reminds all customers to compare the Basic Service Rate and other available rates to choose the option that works best for them. Customers can learn more about supplier options and what to consider before switching on the commonwealth’s website here



 



Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2023 and recognized as one of America’s Most JUST Companies. Celebrated as a national leader for its corporate citizenship, Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.47 million electric customers in 140 communities, 639,000 gas customers in 117 communities, and 11,500 water customers in five communities. Eversource harnesses the commitment of approximately 9,900 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on XFacebookInstagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.



CONTACT:



Chris McKinnon



617-424-2108



christopher.r.mckinnon@eversource.com



 



William Hinkle



603-634-2228



william.hinkle@eversource.com



 



Priscilla Ress



413-787-1055



priscilla.ress@eversource.com