Customers who are signed up for Eversource Connecticut’s standard service will see significant savings on their electric bill beginning July 1, according to a press release from the utility.
The Generation Service Charge (GSC) for standard service customers is a pass-through charge for the cost of generating power. Because of lower wholesale power prices, Eversource was able to secure a lower price for customers, which will be in effect from July 1 to Dec. 31.
The new generation rate approved by the Public Utilities Regulatory Authority – 6.61 cents per kilowatt-hour (kWh) – is the lowest since 2004. This is a savings of nearly three cents from the current 9.56 cents per kWh, so the average residential customer using 700 kWh monthly will see a reduction of about $21 in their electric bill. Sixty-six percent of Eversource’s 1.2 million customers in Connecticut are signed up for standard service and will see savings as a result of this price change.