New Hampshire Electricity Rates
New Hampshire originally started to deregulate their energy market in the late 1990s. However, it took some time for retail energy providers to start offering their services to New Hampshire residents and businesses. Today, New Hampshire residents have many options to choose from for their electricity provider. Although many low-cost providers are beginning to service New Hampshire, their rates are currently 45% higher than the national average. Commercial electricity rates come in at 34% higher and the industrial electricity rates come in at 76% higher in NH over the national average. New Hampshire residents and businesses are hopeful these prices will fall as more retail energy providers enter the market.
New Hampshire Energy Deregulation
New Hampshire started the process of deregulating their energy market in 1996 with a bill that was proposed to the New Hampshire Public Utilities Commission. The proposed bill required the Public Utilities Commission to develop a plan for a competitive energy market and restructure the current utilities by 1998. The plan was finished by 1997 and laid the groundwork for independent retail electricity providers to start offering their services to NH residents.
Granite State Electric Company was the first utility to begin the restructuring in 1998. By December 2002, all of the New Hampshire utilities had restructured. In May of 2003, retail energy providers could begin offering their services to NH residents and businesses.
Although the state has been deregulated for over a decade, many New Hampshire residents and business still have not switched to an independent retail provider. This is mostly due to the large independent energy providers already in the state marketing mainly to large businesses and corporations. Also, electricity price competition in New Hampshire hasn’t developed as much as the state’s residents had hoped. However, this trend is starting to change in New Hampshire as more and more competitive rates are being offered and marketed to residential consumers.
New Hampshire Utilities
There are four electric utilities that serve all of New Hampshire. Their utilities include Eversource Energy, Liberty Utilities, Unitil Energy Systems and New Hampshire Electric Cooperative. Eversource serves roughly 70% of New Hampshire while Liberty serves 6%, Unitil Energy serves 11% and NHEC serves 11%. Find out more about the history of these NH utilities below:
- Eversource Energy
- Liberty Utilities
- Unitil Energy Systems
- New Hampshire Electric Cooperative
Compare New Hampshire Electricity Rates
For many people, the most important thing to compare when shopping electricity is the cents/kWh rate. If this is the case, you’ll want to find a retail electricity provider that offers a lower rate than what you are currently paying, which is referred to as the “Price-to-Compare” and can be found on your current utility bill. Keep in mind, even a slight difference can result in large cost savings. However, some might be looking to a more environmentally friendly renewable energy plan. At ElectricityRates.com, we do our best to find the best rates and best green energy plan for you and put them at the top of the results page. There are other factors that should be considered when shopping electricity rates:
VARIABLE V. FIXED PRICING – Variable pricing can vary by day or month, is based on the market price for the retail electricity provider, and can be very unpredictable. However, often time providers won’t charge an enrollment fee or early termination fee with these plans. With fixed pricing, customers can pay one low rate that will never change until the contract expires.
LENGTH OF THE CONTRACT – Contract terms can last for as little as one month or as long as 36 months. Shorter contracts may offer lower rates, but longer contracts lock in low rates for long periods and reduce the risk of high rates when the contract expires. The ICC recommends choosing a 12- or 24-month contract to avoid risk.
OTHER SWITCHING INCENTIVES –Some providers offer sign-up bonuses, rewards programs and point earning systems, guaranteed savings, and more.
GREEN/RENEWABLE ELECTRICITY – Looking to be more environmentally conscious? Many providers offer partial or 100% renewable electricity options as well as Renewable Energy Certificates (RECs) to residents and small businesses. While the rates are higher than traditional electric sources, the availability of renewable electricity has driven costs down and can often be found for less than the utility’s Price-to-Compare for traditional electricity.
Ready to Start Comparing NH Electricity Rates?
At Electricityrates.com, we make it fast, simple and easy to shop and compare electricity rates in your area. All you have to do is type in your zip code into our shop and compare tool on Electricityrates.com or on the upper right side of this page and we bring you all of our rates. We even have our energy industry experts select the top plans no matter what is most important to you and put them on the top of the results page. It’s 100% free to shop around and compare rates so what are you waiting for?