Unitil Rate Increases by as much as $42/mo for NH customers, CMP customers see $4/mo hike
In the News | October 6, 2014 |Posted by Fred Greenhalgh
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Along with death and taxes, add utility rate hikes to the list of certainties in life. This week, Unitil announced a near-doubling of their electricity supply rate from 8.5c/kWh to 15.5c/kWh. This will result in a staggering cost increase ofroughly $42/month for the average homeowner in the Seacoast. Mainers in CMP territory are also affected, though by a smaller (~$4/mo) increase that took effect September 1.
The increased Unitil rates are driven because of competition to get ahold of natural gas. AsSeacoast Online reports, “more than half of New England’s electricity is generated by natural gas and heating customers get first crack at the total natural gas capacity, according to [ISO New England’s Marcia] Bloomberg, whose company operates the New England Power Grid, runs the competitive wholesale electricity markets and plans for future power needs.”
The competition for natural gas for both heating and electricity means that the price per therm skyrockets in the wintertime, driving up the cost for both usages of the energy. Unitil has a near apologetic tone in the news article, suggesting that homeowners take “energy-saving and cost-cutting initiatives” and “look into third-party electricity supply organizations” for lower rates of electricity.
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