Electric rates for Groton Utilities customers will change with all bills rendered on or after April 1. The three step rate change calls for additional rate increases on April 1, 2019 and April 1, 2020.
The new electric rate schedule for a typical residential customer using 750 kWh will mean a monthly increase of less than one dollar per month in each of the three years of the rate.
There are also two major changes in the rate design.
- The readiness to serve charge, i.e. the customer service part of the bill, will increase slightly. The purpose of this change is to recover fixed expenses more evenly throughout the year.
- The energy component will decline each of the next three years, helping to offset any increase in the readiness to serve charge.
Groton Utilities residential customers will continue to have one of the lowest electric rates in the State of Connecticut even with the new rate schedule. Groton Utilities residential rate will continue to be lower than investor owned electric distribution company, Eversource, by approximately 20 percent.
The new rates are needed due to the higher costs of doing business, to insure proper maintenance of the electric distribution system, to maintain electric reliability and to provide the necessary capital to improve the system.