PSNH Files for Reduction in Energy Charge
MANCHESTER, N.H., May 3, 2012—Most customers of Public Service of New Hampshire (PSNH) will see little change in their electric bills on July 1st if rate adjustments requested by PSNH are approved by state regulators. PSNH filed this week with the NH Public Utilities Commission (PUC) to adjust its Energy Service rate and Stranded Cost Recovery Charge rate.
PSNH is requesting the Energy Service rate be decreased from 8.75 cents per kWh to 7.83 cents per kWh. State regulators adjust PSNH's Energy Service rate at least annually, to reflect the company's actual cost of producing or purchasing energy for its customers. The primary reason for the decrease in PSNH's Energy Service rate is low energy market prices and a forecasted reduction in ongoing operating costs at PSNH's power generating facilities. Customers purchasing energy from a supplier other than PSNH will not be impacted by the Energy Service rate decrease and will continue to pay their supplier rate.
PSNH is also requesting the Stranded Cost Recovery Charge rate be increased from 1.23 cents per kWh to 1.94 cents per kWh, primarily to recover costs associated with an agreement to purchase power from five independently-owned biomass power plants. Taken together, the adjustments to the Stranded Cost Recovery Charge rate, the Energy Service rate, along with a recent adjustment of distribution rates, if approved by regulators, means that PSNH's Energy Service customers using 500 kWh of electricity per month will see an increase of less than one-half of one percent in their monthly bills. PSNH will update its filings in June.
|PSNH Rate Change*Examples for a Residential Customer* Subject to Approval by NHPUC|
kWh per month
|April 16, 2012||July 1, 2012|
|MEDIA CONTACT:||Mike Skelton||Communications Specialist|
PSNH is New Hampshire's largest electric utility, generating and distributing clean electricity for more than 490,000 homes and businesses in an environmentally friendly manner.