Are New England Utility Price Increases About to Affect You?

New Hampshire residents are in for quite the surprise this summer. Eversource customers in the state have been warned that the average homeowner could see a $70 increase in their monthly utility bill very soon. 

According to Eversource, customers from the region who use 600 kilowatt hours of electricity would pay $71.39 more a month starting August 1st. And with average household energy consumption in New Hampshire at 629 kWh per month, this number will be accurate for lots of people.

When the increase goes into place, the default service rate will more than double from 10.669 cents per kilowatt hour to 22.566 cents per kilowatt hour. And this is not limited to Eversource customers or New Hampshire.

Rising Rates Throughout New England

Liberty Utility bills are also projected to increase by 47% with a bill at $150 now becoming $220. Further, Eversource notified Massachusetts customers that starting July 1st, the average customer in the east will be charged $11.59 more per month with the average customer in the west expected to pay $8.89 more per month. 

Electricity prices in all of New England and the northeast region are projected to be over $100 per megawatt hour compared to $50 MWh last summer.

In the end, everyone will be bearing the brunt of increasing prices brought on by the conflict in Ukraine, pandemic related increases in demand, and extreme weather effects on gas-producing states.

Beyond Fossil Fuels

Even before these more recent challenges, oil prices were already on the rise because of a lack of funding. Over the last decade, oil has been a losing investment and thus investors aren’t putting money into finding new sources of the non-renewable energy. 

Just from a price standpoint, fossil fuels don’t make sense anymore. Then, if you factor in their major role in degrading the health of people and the planet, it’s a no brainer to transition to something better.

Here at Summit Energy, part of what drives us is a vision of powering the world with clean, renewable solar power. In just the last five years, we’ve helped over 3,000 residential and commercial customers save on their utility bills, gain energy independence, and make a positive impact on the world. And we don’t plan on slowing down anytime soon.

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