Liberty Utilities filed a proposal with the state’s Public Utilities Commission that included an increase in the default energy service rate from 11.11. cents per kilowatt-hour to 22.23 cents. It would result in a net increase of 47 percent for consumers. The state’s largest energy provider, Eversource, proposed a new default energy service rate of 22.566 cents per kWh, a net 53 percent cost increase to customers.
Since May of 2021, the energy markets have shifted from decade lows to decade highs. Heating oil, propane, natural gas, and electricity have seen dramatic rises in costs over this time. Natural gas, which is the primary fuel source for electricity generation, has gone on an unprecedented tear driving up electricity prices in the region. New England’s fragile natural gas network causes severe strain on our electricity grid during peak winter months as the region cannot meet its natural gas requirements. This pushes up New England’s reliance on LNG (liquified natural gas) delivered by ship into Boston. This, along with low storage, record exports, and continuing global unrest abroad, New England electricity pricing this winter and beyond will be extremely expensive. The NHADA Electricity program was created to help members manage their electricity spending and there is no better time to join than now during this extreme market volatility.
Competitive Energy Services is NHADA’s endorsed provider of One-Stop Energy Management Services. To learn more please contact Larry Pignataro at CES at: lpignataro@competitive-energy.com or Dan Bennett at NHADA at: dbennett@nhada.com.
