Eversource, UI Power Generation Rates To Increase In 2019

Aaron Kupec
November 05, 2018 - 11:08 am
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(WTIC Radio) - Prepare to pay more for electricity in 2019.

State utility regulators have approved new higher electricity generation rates effective January first for the "standard offer" from Connecticut's two major utilities, WTIC News has learned.

The Eversource standard offer rate is increasing almost 19 percent from 8.53 cents to 10.14 cents per kilowatt hour. The United Illuminating standard offer rate is increasing almost 24 percent from 9.05 cents to 11.23 cents per kilowatt hour. These rates apply to residential consumers who to not select a third-party supplier for their electricity.

Eversource and UI do not make money on the generation rate. It is simply a pass-through cost. They make money on the distribution rate, which is another component of consumers' bills, and is set through a different process.