Summer Electric Supply Rates to Drop for Eversource and UI Customers in Connecticut

Connecticut’s major electric utilities, Eversource and United Illuminating, have announced plans to reduce standard service electricity supply rates effective July 1, pending approval from the Public Utilities Regulatory Authority. Eversource’s rate will decrease from 12.64 to 11.58 cents per kilowatt-hour, offering typical customers approximately $7 in monthly savings. United Illuminating’s rate will drop from 13.69 to 11.99 cents per kilowatt-hour, resulting in about $12 in monthly savings for average users. These reductions are largely driven by cost savings from the state’s long-term contracts with nuclear power plants, including Millstone and Seabrook Station. Although supply rates are falling, officials warn that total bills may remain high due to increased summer air conditioning usage. The Office of Consumer Counsel noted that these changes, combined with the elimination of public benefits charges, could lower overall electricity rates by roughly 18% in the coming months. Utilities do not profit from supply costs, which are passed directly to consumers, but continue to earn revenue through transmission and distribution services.