Electric prices for Connecticut residents likely to drop dramatically during the second half of 2023
April 3, 2023
After three months of paying dramatically higher electric rates, there may be some relief coming this summer for a majority of Connecticut electric customers.
The state’s two largest electric distribution companies, Eversource Energy and The United Illuminating Co., are in the midst of procuring electricity for their standard offer service customers to use during the second half of this year. And although the procurement process won’t be completed for several more weeks and new rates won’t take effect until July 1, officials with the companies and a spokesman for Connecticut’s utility regulators have said they expect significantly lower electric rates than what most people are paying now.
