Concord, NH – Chairman Michael Vose (R-Epping) and Vice Chairman Doug Thomas (R-Londonderry) of the House Science, Technology, & Energy committee released the following statement concerning Eversource residential rates as approved by the Public Utilities Commission (PUC).
“The recently approved total residential Eversource rate of 24.5 cents per kWh is a direct result of the devastating inflationary forces and short-sighted energy policies of the Biden Administration.”
“For example, in the last few years, the average cost of a utility pole has increased by nearly 30%, the cost of a transformer has increased about 130%, and the cost for a spool of distribution wire has increased nearly 50% along with increased costs for vegetation management.”
“Significant increases in the cost of distribution and transmission explain the most recent increases and now comprise the highest percentage of the electric bill. This is reflected in the energy service charge of 10.4 cents per kWh, representing 42 percent of the bill as opposed to it being historically closer to 50 percent.”
“As policy makers, we will do everything possible to mitigate the rising costs of electricity bills and oppose any action that only serves to put added burden on our ratepayers.”