Liberty Utilities Summer Electric Rates May Drop By 55%
The first New Hampshire electric utility to file its summer rate change has asked for a 55 percent decrease. The request reflects low demand for natural gas during the summer months.
Months ago, Liberty was the first New Hampshire utility to seek a dramatically higher winter rate: jumping from 7.7 cents per kilowatt hour to more than 15 cents.
Now, as swiftly as electricity prices spiked in the fall, they are set to plummet even more this spring, down to 6.8 cents per kilowatt hour.
“The typical residential customer will see about a $47 decrease in their monthly electric bill,” says spokesman John Shore.
Over the winter, higher rates were blamed on insufficient gas pipeline in New England, and likewise, because gas isn’t being burned for heat and those same pipes are freed up.
If approved by regulators, the new rate would take effect in May and run through October 30th.