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Officials with New Hampshire's largest electric utility, Eversource, said they will make no profit when they increase customers' monthly bills by 19 percent on Aug. 1.
Documents show the New Hampshire Public Utilities Commission approved the rate hike on June 15, though Eversource did not make the announcement until this week. Company and state officials said this rate increase will last for six months.
"This is a direct pass-through cost to customers for the price of power generation, with no profit to Eversource,"company officials state on their website.
As of Aug. 1, the rate will go from 7.903 cents per kilowatt hour to 9.412 cents per kilowatt hour.
"We're always mindful of the effect energy supply increases have on our customers, particularly those who are facing difficult financial circumstances. We urge customers to make full use of our energy efficiency programs to help reduce their usage, tighten-up their homes and keep their energy bills down,"Eversource Senior Vice President and Chief Customer Officer Penni Conner said.
"Our energy efficiency specialists are ready to help find solutions so customers can better manage their energy use year-round,"Conner added.
Eversource serves more than 500,000 homes and businesses in 211 cities and towns in New Hampshire.
According to the U.S. Energy Information Administration, a division of the Department of Energy, the vast majority of New Hampshire's electricity comes from nuclear generation. Other forms of generation for electricity used in the Granite State include hydroelectric, coal, natural gas and"non-hydroelectric renewables,"which includes solar and wind power.
Meanwhile, Democratic gubernatorial candidate Molly Kelly went on the offensive against Gov. Chris Sununu on Tuesday regarding the rate increase. She tweeted:"As Eversource hikes electricity rates by nearly 20%-right after @ChrisSununu vetoed bills that would encourage competition from renewables-Sununu should avoid the appearance of improper actions and give back the $51k in contributions he's taken from Eversource #nhpolitics."