PSNH Residential & Small C&I Default Service Rate Increasing 20%

The New Hampshire PUC recently approved new energy service (default service) rates at Public Service Company of New Hampshire (PSNH or Eversource) for the six-month period beginning February 1, 2022

For the Small Customer Group, (including residential customers) the PSNH all-in default service rate will be 10.669 cents per kWh for the period February 1, 2022 and July 31, 2022, up 20% from the current 8.826 cents per kWh

The Small Customer rate of 10.669 cents per kWh consists of the weighted average cost of competitively procured electric energy supplies, a 0.794 cent per kWh charge for compliance with New Hampshire’s renewable portfolio standard, a 0.063 cents per kWh charge for Eversource’s administrative and general expenses, less various rate adjustment factors.

Monthly default service rates for the Large Customer Group are below (cents per kWh):

February 2022    21.425
March 2022       12.600
April 2022        8.970
May 2022          7.605
June 2022         7.898
July 2022         9.275

Eversource selected NextEra Energy Marketing, LLC (NextEra) to supply power in two tranches for the Small Customer Group, and Vitol Inc. (Vitol) and Exelon Generation Company, LLC (Exelon) to supply power in one tranche each for the Small Customer Group. Eversource selected Exelon to provide power for the Large Customer Group.