Eversource is trying a new strategy to smooth out the volatile swings between summer and winter electricity rates.
The company will adjust the six-month rate periods to run between February and July and August through January, therefore splitting the coldest and most expensive two months.
"Due to our current reliance on fossil fuel generation, customers can experience significant volatility in electric supply prices,” said DPU Chair James Van Nostrand, “Today’s decision is an important step towards minimizing significant price swings for basic service customers, while we transition to clean energy sources that will not only help stabilize energy rates but also lower emissions and improve air quality.”
The state Department of Public Utilities announced the plan on Tuesday.
(Photo by INA FASSBENDER/AFP via Getty Images)
Photo: INA FASSBENDER / AFP / Getty Images