PURA: PURA Approves Revised Electric Generation Rates

2014 Press Release
 
November 17, 2014
 
PURA Approves Revised Electric Generation Rates

New Rates Take Effect January 1, 2015
 

The Public Utilities Regulatory Authority (PURA) has approved revised generation rates for residential and business customers taking Standard Service generation from The Connecticut Light & Power Company (CL&P) and the United Illuminating Company (UI).
 
CL&P and UI recently submitted proposed rates based on competitive auctions held earlier this year to procure sufficient power to meet forecast load. The bid process, the resulting rates and underlying calculations were analyzed and verified by PURA technical staff, and approved by PURA's commissioners at a public meeting today.
 
Effective January 1, 2015, CL&P’s residential generation rate will increase from 9.990 cents per kilowatt-hour (kWh) to 12.629 cents/kWh. UI's residential generation rate will increase from 8.6657 cents/kWh to 13.3108 cents/kWh.
 
Generation service rates for other residential and business customer classes are also set to change effective January 1, 2015.
 
The generation rate – which recovers the cost to generate power – comprises roughly 50% of the monthly electric bill for most residential users.
 
Other charges on electric bills that recover the cost to deliver electricity – which will be adjusted by the PURA later this year for implementation in 2015 – include distribution and public benefit charges. Delivery costs also include transmission charges, which are set by the Federal Energy Regulatory Commission.
 
Approximately 40% of Connecticut’s residential customers receive standard service generation from CL&P and UI. The remaining residential customers have chosen electricity provided by competitive approved electric suppliers, which may be more or less than the standard offer depending upon contract terms and the energy source.
 
Customers can compare current offers on www.energizect.com, or by calling 1-877-WISE-USE. The "EnergizeCT" website also includes the helpful customer guide "How to Assess Suppliers."