Energy costs expected to increase; Shop, Sign up, and Save!

Folks,
I received this information from our Eversource representative and I am passing it along for your perusal.

Regards,

Chris Johnstone

As it did last winter, the cost of energy supply is expected to once again increase when we transition from summer to winter rates on January 1. We’re encouraging customers to take control of their energy costs by shopping for a third-party supplier at EnergizeCT.com.<link.edgepilot.com/s/304d5f51/PfUB-jVJAkyXosOehJ0hhQ?u=https://energizect.com/>

We recognize the financial burden that high energy prices place on our customers, especially as the costs of other goods and services have increased. We’re reaching out to all our stakeholders to make them aware of the likely increase and encourage them to take action and help make their residents and constituents aware of the ways they can shop, sign up, and save.

We’ve launched an educational campaign to reach as many people as possible through digital advertising, media and social media, customer emails, billboards, and website messages to encourage customers to compare rates offered by third-party suppliers on EnergizeCT.com. Eversource customers who’ve never shopped before can find help navigating the process by going to Eversource.com/supplier<link.edgepilot.com/s/d85943bb/GvUVyh7JUESR1xKM6P840Q?u=http://www.eversource.com/supplier>.

As you know, Eversource does not produce electricity. We purchase power for our Standard Service rate on behalf of our customers on the open market and directly pass those costs on without any markup. International factors continue to affect the seasonal winter cost of natural gas, which is used to produce roughly half of New England’s electricity. While we do expect the electric supply price to rise this winter, it is not expected to increase as much as it did last winter. We’ll file proposed rates with PURA in mid-November, and the approved new rates will take effect January 1, 2024, for customers on Standard Service.

In addition to shopping for a third-party supplier, customers can visit Eversource.com/manage-cost<link.edgepilot.com/s/8fa5e590/F0Fz5PwGRUqXlu4WenLpLg?u=http://www.eversource.com/manage-cost> to learn about the other programs and services that are available, including:

* Our Budget Billing Plan helps avoid seasonal spikes on their energy bill by letting customers pay a fixed amount each month based on their average annual usage. * The Matching Payment Program can lower the amount customers owe on energy bills. For every dollar they pay and every dollar they receive from the Connecticut Energy Assistance Program, we will subtract a dollar from the amount owed. * The New Start Program forgives overdue balances for electric customers as on-time monthly budget payments are made. (For example, if your budget payment amount is set at $150 per month and your past due balance is $1,200, for every month you make your required $150 payment towards your bill, we will reduce your past-due balance by $100.) * Payment Plans are available to all customers to help pay their past-due balance over time. * A new Low-Income Discount Rate will take effect December 1, which can give customers with financial hardship either a 10% or 50% discount off their electric bill per month. Customers can qualify to receive the discount based on household income or receipt of a public assistance benefit. For example, if a customer has a $100 monthly bill, it would be $10 less if they receive a 10% discount or $50 less if they receive the 50% discount. * Residential customers are encouraged to take advantage of seasonal energy-saving tips, offers, programs and rebates to help reduce energy use leading up to and during this winter.
Attached to this email you will find a bill help fact sheet that can be also be shared with your residents.