16% Increase in Eversource’s July 2023 Connecticut Residential and Small C&I Default Service Rates

Residential (Rate 1) Standard Service Rate:

• From July 1 to December 31, 2023, the EversourceI residential (Rate 1) Standard Service rate will be 13.822¢/kWh. This rate is 42% lower than the current Eversource Rate R1 rate of 24.172¢/kWh.
• However, compared to the same period in 2022, which had rates of 12.050¢/kWh, the 2023 Eversource residential (Rate 1) Standard Service rate is 15% higher.

It’s worth noting that all the Standard Service rates mentioned in this article include the Bypassable FMCC, which is being updated to a credit of (0.170)¢/kWh in July 2023.

As of now, there are several competitive retail suppliers listed on CT Energy Info offering fixed residential plans (not for an ultra-long duration) that are still approximately 15% lower than the new residential price to compare. Additionally, numerous suppliers are providing rates around 1¢ below the new PTC (about 7% lower than the new PTC). Keep in mind that residential supplier offers in Connecticut generally do not have early termination fees. 

Eversource small C&I (Rate 30 & 35) Service Rate:

• On January 1, 2023, the Eversource small C&I service rate will decrease by 38% to 14.264¢/kWh from the current rate of 23.031¢/kWh.
• However, when compared to the rates from July 1, 2023, to December 31, 2022, which stood at 12.25¢/kWh, the 2023 Eversource small C&I service rate (Rate 30 & 35) is 16% higher than the same period in 2022.

Stay informed about these rate changes and keep an eye on the evolving energy market to make well-informed decisions that best suit your energy requirements.