NH Eversource Electric Rate Comparison to Save Against August 2018 Price Increase
Eversource Energy in New Hampshire recently announced that they will be increasing their electricity generation supply price starting on August 1, 2018 for customers who are on the default pricing structure. The price increase is for the supply component of the Eversource electric bill, which is the part that is available for customers to shop for lower rates due to the New Hampshire electricity choice law. Electricity choice in New Hampshire provides customers who are still on the default rate an option to get out of the coming rate increase and save money.
From January to the end of July 2018 the Eversource Energy default rate in New Hampshire has been steady at $0.07903, which has remained lower than most competitive offers. The low default price has kept electricity shopping activity in the state to a low level as the incentive has not been there for first time shoppers to take the time to learn about the shopping experience. When competitive New Hampshire electricity suppliers can offer rates below the default price, customers have a clear incentive to shop and save money.
On August 1 the default rate will explode up 19.1% to $0.09412. Customers who do not take the initiative to to get ahead of the price increase and find a lower competitive New Hampshire electric rate will start receiving higher electric bills in September that will be nearly 20% higher than their August bill. The rate increase is a pass through charge by Eversource Energy; they do not receive a profit from the default supply rate. Eversource Energy encourages their customers to shop for lower supply electric rates as their revenue and profit models are determined by the regulated distribution rates that they charge.
Below are current competitive electricity rates offered in the Eversource New Hampshire service areas. All rates are provided by suppliers who have been licensed by the New Hampshire Public Utilities Commission.