2015 Press Release
May 8, 2015
PURA Approves Revised Electric Generation Rates
New Rates Take Effect July 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 and Power Company dba Eversource Energy (Eversource) and the United Illuminating Company (UI).
Eversource 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 July 1, 2015, Eversource's residential generation rate will decrease from 12.629 cents per kilowatt-hour (kWh) to 8.228 cents/kWh. UI's residential generation rate will decrease from 13.3108 cents/kWh to 9.1241 cents/kWh.
The Standard Service generation service rates for other residential and business customer classes are also set to change effective July 1, 2015.
The generation rate – which recovers the cost to generate electricity – 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 2016 – include distribution and public benefit charges. Delivery costs also include transmission charges, which are set by the Federal Energy Regulatory Commission.
Approximately two-thirds of Connecticut’s residential customers receive standard service generation from CL&P and UI. The remaining residential customers have chosen to receive their electricity from licensed electric suppliers, whose rates may be more or less than the standard offer depending upon contract terms and the energy source.
Customers can compare UI and Eversource Standard Service generation rates to licensed suppliers' current offers on Connecticut's official generation rate board at www.energizect.com
. From the home page select "Choose Your Electric Supplier."
For more information about the State of Connecticut's Public Utilities Regulatory Authority, visit www.ct.gov/pura