PITTSFIELD — Customers of Eversource Energy will see a decrease of about $10 on their monthly bills beginning in July.
The Department of Public Utilities has approved a change in the company's residential supply rate for the second half of 2016 that is 26 percent lower than the current rate.
Eversource was able to secure the lower six-month price for customers due to a drop in wholesale power prices.
"This drop in generation prices is coming at the time of year when customers are increasingly using more energy to cool their homes and business," said Penni Connor, Eversource's senior vice president and chief customer officer, in a statement.
The total monthly bills for Eversource residential customers who use 600 kilowatt hours of electricity will drop by 8.6 percent starting July 1, from the current $122.77 to $112.20.
The new residential supply rate for Eversource customers will drop from 10.426 cents per kilowatt-hour to $7.708 cents. The decrease will result in a monthly savings of $16.31 on the supply charge for residential customers who use an average of 600 kilowatt-hours of electricity, the company said.
That savings will be tempered by an increase in the rate used to fund statewide energy efficiency programs. That increase of 0.957 cents per kilowatt-hour, will add $5.74 to the average monthly bill.
That increase is related to the new statewide Three-Year Energy Efficiency Program, which was approved earlier this year.
The program is expected to deliver an estimated $8 billion in economic, environmental and energy benefits, and reduce carbon emissions by nearly 2 million tons annually.
Eversource transmits and delivers electricity and natural gas to 1.7 million customers throughout Massachusetts. As a regulated delivery company, Eversource purchases electricity from suppliers and passes on the cost, with no profit added, directly to its customers through the company's basic service supply option.
By law, the basic service price for residential and small commercial customers is required to change twice each year, on Jan. 1 and July 1.
All customers also have the option to purchase electricity through competitive suppliers.
Contact Tony Dobrowolski at 413-496-6224.