Electricity Rates
The cost of electricity in Connecticut is rising dramatically for customers on eversource ct or United Illuminating’s standard generation plan. The increase is a result of the high price of natural gas, which fuels many power plants in New England. The price of natural gas has soared over the past few months due to the conflict in Ukraine.
State lawmakers are calling for PURA, the Public Utility Regulatory Authority, to push back on these dramatic increases. Consumer advocates say the increase will hurt families that already struggle with high energy bills.
Residents and businesses in the state have the option to buy their electricity from alternative providers that offer better rates. Since deregulation in 1998, thousands of Connecticut residents have taken advantage of competitive energy markets and switched to alternative suppliers. Competition between electric suppliers keeps prices lower than they would be in a regulated market, and gives consumers control over their energy costs.
Those who want to shop for better rates can enter their zip code at the top of this page to see the electricity providers and plans available in their area. They can then compare the options and choose a provider that offers the best rates for their needs. The rates shown are for the supply portion of the bill, which varies based on the plan and usage. They can also choose a fixed-rate plan that locks in the rate for the duration of their contract, or a renewable energy electrical plan if they prefer to support environmentally responsible sources of energy.
Once the customer decides on a plan, they can make the switch in only a few minutes. The process will not interfere with their local utility service and they can cancel their agreement without any penalties if the rates go up or down. If they are currently on a UI or Eversource plan, the utility will automatically update their rates when they switch to an alternative supplier.
While the current rate hikes are significant, PURA does have a plan in place to help struggling households. It will create a new class of power supply rates that are 50% below the typical rate for anyone living at or below 160% of the federal poverty guideline. That will allow low-income families to continue using their energy as they struggle to pay for other essential expenses. The new rate is expected to be implemented next year. Until then, PURA is encouraging residents to conserve energy and seek financial assistance if they are having trouble paying their current electricity bill. The state’s Low-Income Home Energy Assistance Program begins taking applications on Sept. 1 for winter assistance.