Electric rates in the northeast United States, particularly New Hampshire and for customers of the utility giant Eversource, are practically doubling “overnight.”  Customers are starting to see electric bills arrive this month literally double than what they were just a month or two ago.

Are you an Eversource customer in New Hampshire?  If so, you’ve probably seen your new electric price (kwh) and the higher electric bill associated with it.  If not, you most likely haven’t received your most recent bill from Eversource — consider yourself fortunate.  Trust us — it’s on the way.

Why did Eversource increase electric rates?

Eversource says that these rate increases and the electric bills that have practically doubled because of them are due to the “…rising global cost of natural gas.”

How long will rates be so high?

February of 2023 — at least.

Utilities in each state are regulated and monitored by local/state governments.

In New Hampshire, Eversource is regulated by the New Hampshire Public Utilities Commission (PUC).  Part of the PUC’s job in each state is to regulate the rates set by utilities and New Hampshire’s PUC will not allow another rate increase (or decrease, if the price of natural gas drops) until February of 2023.

How can I lower my Eversource bill?

New Hampshire is a state that has a “deregulated” energy market.  That means there are alternatives to your local utility — Eversource — when it comes to your electric service.  Some of these alternative companies, called “Retail Electric Providers” or REPs — are still offering electric rates lower than Eversource.

Signing up to one of these alternative providers to a lower fixed (ie, your rate cannot increase!) energy rate for 6 months, 12 months, etc, would be an “instant” way to lower your electric bill and lock in those savings for your contract term.

Note:  these rates per kwh will still be higher than what you paid just a few months ago — or maybe even last month — but they are guaranteed under a “fixed” plan.

What are alternatives to Eversource in New Hampshire?

Alternatives include retail energy providers such as Direct Energy, Xoom, and XNH Power.