Londonderry, New Hampshire residents and city officials are looking to soon join forces with one Portsmouth electric supplier in an attempt to bring lower residential and business electricity rates to town, the Union Leader reports.

According to the media outlet, the town held a council meeting on Monday, September 10, during which Deb Crowley of Electricity New Hampshire Power (ENH) discussed what her company could offer business and residents of Londonderry. Council chairman John Farrell added that the council has also pitched the idea of creating its own regional power authority.

"In looking around, we found our way to ENH," he said.

ENH's parent company Provider Power already supplies electricity to more than 150,000 customers in Maine, and operates in a similar way. The company purchases electricity from the New England Power Pool and distributes it, while allowing customers to continue working with their current supplier.

This method, Crowley said, will help New Hampshire residents keep electricity rates low no matter what season it is.

"We purchase power a year in advance and can pass on the savings directly to the consumer," she added.

New Hampshire's energy deregulation laws allow customers to switch energy providers in the event of unexpected rate hikes.