Bad News For Connecticut: Electric Rates Will Double in 2023

When they say rate increase, they were not kidding. According to a press release from the Office of the Attorney General of Connecticut, William Tong, both Eversource and United Illuminating will be doubling their rates.

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That is correct, Connecticut citizens that use either Eversource or United Illuminating, you guys will be paying double, and in the case of United Illuminating, slightly more than that. The attorney general's press release tells us that Eversource standard rates will double from 12.05 cents per kWh to 24.2 cents per kWh, resulting in an $84 per month increase for the average user. To make it better, United Illuminating is going from 10.6 to 22.5 cents per kWh, resulting in an $83.09 increase, which is a little more than double the current rate.

From Attorney General Tong:

This is a massive increase that will be unaffordable for many Connecticut families and businesses. We pay far too much for our energy in Connecticut as it is, and these winter rates are nothing short of punishing.

So, why is this happening? I suppose the War in Ukraine is an easy one to use, maybe it's true or maybe not. More from Mr. Tong:

My office has intervened on behalf of consumers at each and every rate case before the Public Utilities Regulatory Authority and the Federal Energy Regulatory Commission because we know how much the cost of energy impacts family budgets. We have next to no ability to challenge these supply rates, which is frustrating.

There it is, the "we are powerless and can do nothing about this" type of answer we always seem to get. It really doesn't cushion the blow by saying these types of things, it's more of a shifting blame thing.

Our supply rates always fluctuate between winter and summer, but this is not normal. We are seeing a huge global spike in gas costs due to the war in Ukraine and Russian manipulation of gas supplies. Both as a country and a state, we need to take a hard look at our energy sources and reduce our reliance on sources like natural gas that produce these wild, unaffordable surges in rates.

There we see the "reasons" for this happening, including some "manipulation" of gas supplies. The quest for the almighty dollar is WAY more important than the financial security of everyday citizens. Whatever is going on with this mess, it is going to be expensive for a big portion of Connecticut energy consumers. One thing I will add to this is, they better never, ever, ever, under any circumstances let your power go out after doubling the rates...just saying.

For more articles written by this guy, you can tap or click right here, including a recent one about a Connecticut "message in a bottle" story. Thanks for hanging out with me and see you all again real soon.