PSNH rate request comes in even lower than expected
The regulated utility serving 70 percent of the state is requesting its energy service rate be reduced nearly 10 percent, to 8.62 cents per kilowatt hour from the current 9.54 cents per kwh. In early May, the company predicted it would request 8.98 cents per kwh.
With all changes taken into account, the total electricity bill for a PSNH customer will be going down by 4.3 percent as of July 1, assuming the changes are approved, according to PSNH spokesman Mike Skelton.
"When we're running our generation, we're creating revenue that in effect goes to customers since it pays costs they would otherwise have to pay," Skelton said.
The PSNH energy supply rate is inching closer to the rates offered by competitors, who have been providing energy supply, delivered by PSNH, since mid-2012.
On the other hand, 12-month price guarantees by some competitors now exceed the PSNH six-month offer. Glacial Energy of New England is offering 8.69 cents for 12 months, while North American's 12-month offer is 8.79 cents.
"Switching is about more than just price," said Brian Landrum, president of Nextera Energy Services, which just entered the residential market last week. "We believe that price is still a big part of the benefit we can offer today, but we can also offer 12-month guarantees, green energy options and additional services down the road."
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