New Hampshire electric bills could rise by $70 a month this summer
CONCORD, N.H. - New Hampshire residents may see a shocking rise in their electricity bills this summer.
Eversource said Friday that on average, a Granite State customer who uses 600 kilowatt hours of power will see a bill increase of $71.39 a month. The increase would take effect August 1, when Eversource is proposing to raise its default service rate from 10.669 cents per kilowatt hour to 22.566 cents per kilowatt hour.
"The increase is due to several factors - the conflict in Ukraine causing energy supply constraints, continued increased demand as the economy recovers from the pandemic and extreme weather impacting gas-producing states," Eversource said in a statement.
Another major utility in the state is also set to hike rates for August. The New Hampshire Bulletin reported earlier this week that the typical Liberty Utility customer will see a 47% increase in their bill. A consumer advocate tells the publication that households currently paying $150 a month will see their bill go up to $220.
An Eversource release from June 1 suggests the hike won't be as steep in Massachusetts, but an increase is still expected. The company says the average customer in Eastern Massachusetts will pay $11.59 more per month starting July 1, while Western Massachusetts customers will notice a rise of about $8.89 a month.
The U.S. Energy Information Administration said Thursday it is expecting "significant increases" in wholesale electricity prices this summer, with New England being the hardest hit. The wholesale cost is how much an energy company pays electricity generators for the power.
"We forecast that electricity prices in the Northeast regions (ISO New England, New York ISO, and PJM markets) will exceed $100 per megawatthour (MWh) between June and August 2022, up from an average of about $50/MWh last summer," the administration said.