Eversource Rate Hike Approved
With the trend of increasing electric rates across the country, we report on yet another rate increase! The Massachusetts Department of Public Utilities (DPU) recently approved a rate hike for Eversource customers in Massachusetts.
Effective January 1, 2018, customers can expect an increase of $8.15 on their monthly electric bill. A seemingly small amount monthly, however, will translate to an additional $97.80 annually. This rate hike will affect 1.4 million Eversource customers in Massachusetts.
An electric bill is a mixture of the cost of power and the cost of transmitting that power. As the cost to create and transmit energy increases, for-profit utility companies will pass that cost (plus some) to customers in an effort to retain or increase revenue. However, it’s often viewed as a massive attempt to increase revenue by unfairly and arbitrarily charging customers more money. Originally, Eversource sought higher rate increases, which would total about $90 million for both regions in Massachusetts combined.
What Are People Saying?
Eversource is disappointed with the DPU’s decision to approve a rate increase much lower than originally requested, while Massachusetts Attorney General Maura Healey strongly opposes the agreed upon rate hike. Healey comments “At a time when businesses and residents are already struggling with high energy costs, the DPU’s order chooses corporate profits over Eversource’s 1.4 million customers. The Department has allowed Eversource to raise rates by hundreds of millions of dollars, instead of imposing the decrease that customers deserve.”
The trend shows an increase in electric rates every year, across the nation. While we hope this won’t always be the trend, we can’t control how much the electric companies charge or where they get their power. However, we can choose where we get our power. Residential Solar offers people across the nation affordable, clean, and renewable electricity. Once considered an “alternative energy”, solar is now a major player in the energy industry and we are proud to help homeowners across the nation realize financial savings and freedom from utility companies.
Own Your Power™. Contact us at 888.56.SOLAR or click the button below to learn how much you can save!