Cost of Electricity Price Increase
You have probably heard in the news recently that energy prices will continue to increase this summer and many are predicting this trend will continue into the winter. Beginning on August 1, 2022, Liberty electric customers will see a price increase in the cost of electricity they are using. We know this may create hardship for some of our customers and we want to do what we can to help. Below is some information about why this increase is happening, how it will affect your bill and what you can do help offset this increase.
The energy market, like many other markets, is affected by things like storms, supply chain issues, and general economic and social uncertainty. Also, the war in Ukraine has created a greater demand for our domestically produced natural gas. This, along with various production issues and lower than normal storage levels, has driven prices up. Electric market pricing is closely tied to the price of gas because many power plants rely on natural gas to generate electricity.
The cost of electricity is based on market price. The price we pay for the electricity that we deliver to our customers is passed through to our customers without any markup. Through a competitive bid process, we buy at the lowest price possible. We don’t profit on this part of your bill. The Energy Service charge on our bill represents the cost of electricity.
Beginning on August 1, the residential Energy Service rate will increase to $0.22228/kWh. For a residential customer taking Energy Service (not using a third-party marketer) and using 650 kWh per month, the total bill impact of the proposed rate in this filing, as compared to rates effective today, is a bill increase of $72.21 per month, or 46.67 percent (increase from $154.71 to $226.92 per month).
YES! Energy Efficiency can play a role in keeping bills manageable this winter. Click the button below to view energy saving tips.
Another way to make monthly bills more manageable is to sign up for Budget Billing. This program allows customers to spread out payments over the year, avoiding seasonal fluctuations in monthly electric bills. Click the button below to learn more about this program.
The state of New Hampshire also has resources to help customers having financial difficulties, such as the Electrical Assistance Program (EAP), Neighbor Helping Neighbor, and Fuel Assistance. Click the button below for more information about these programs.
Still Have Concerns?
Our customer service representatives are here to help you. Contact us at 1-800-375-7413 Monday - Friday, 7 am to 5 pm