Beginning in July, customers of utility Connecticut Light & Power (CLP) will notice an increase in the cost of their electric bill.
The Public Utilities Regulatory Authority (PURA) approved CLP's Standard Service Generation Rate increase. PURA spokesman Michael Coyle said CL&P's generation rate will increase from 9.235 cents per kilowatt-hour to 9.990 cents per kilowatt-hour.
According to CL&P information, the average household uses 700 kilowatt-hours per month and is currently paying $64.65 in monthly generation service charges. The approved 8 percent increase translates into approximately $5 more per bill.
"The Standard Service Generation Rate recovers the cost to generate electricity and is approximately 50 percent of the monthly electric bill for most residential users," Coyle said.
The increase will become effective July 1.
The 8 percent increase comes on the heels of Berlin-based CL&P increasing the generation rate by 21 percent for the first half of 2014. The utility jumped the rate from 7.6 cents to 9.235 cents per kilowatt-hour on Jan. 1.
United Illuminating customers will actually see $2 drop in their bill as UI's rate will decrease from 9.0041 cents to 8.6657 cents per kilowatt-hour.
"CL&P and UI recently submitted proposed Standard Service generation rates based on the competitive auctions held earlier this year to buy electricity their customers will need from July through December," Coyle said. "The PURA commissioners at a public meeting held [Friday, June 13th] approved the PURA technical staff's analysis and verification of the bid process, underlying calculations and resulting rates."
Both CL&P and UI customers, the spokesman said, can choose among many companies for generation service. Finding alternative electricity providers is simple! Visit electricityrates.com and enter in your ZIP Code to discover options in your area. Simply compare your generation price to the price of alternative providers and make your selection for savings.