Eversource warns CT lawmakers of potential future rate hikes

If you think your electric bill is high now, start preparing for it to climb up even more.

Eversource sent a letter in March to lawmakers warning of future rate hikes. Now, Republicans and Democrats are doubling down, trying to work together to find a solution so customers don't feel the full brunt.

Could your Eversource bills be going up in the future? The company said it’s likely to happen.

In a letter to lawmakers last month, it laid out some of the estimated costs, including:

• Around $400 million for a base distribution increase, which is about $20 per month for an average residential customer using 700kWh
• About $150 million a year in storm recovery costs, about $7.50 per month for six years
• $1.2 billion investment in smart meters in which the maximum cost would be $8.29 per month over five years

Eversource said it’s all about providing transparency to lawmakers and the public about the potential costs to repair, maintain and build infrastructure.

“There are a lot of new programs that have been added and costs that have built up that in the future will need to be considered in rates,” Doug Horton, Eversource vice president of distribution rates and regulatory requirements, said.

Any rate hikes would have to be reviewed and approved by the Public Utilities Regulatory Authority, or PURA. Eversource said it would like more collaboration from regulators.

In a statement, PURA said: “We work hard to strike the right balance in our decision-making and encourage everyone involved to focus on the collaboration needed to move these issues forward in a productive way.”

Senator Norm Needleman (D-Essex) wants the estimates to be looked at closely by PURA.

“They need to provide fair service, good service to the residents at a fair price,” he said.

Senator Ryan Fazio (R-Greenwich) said a way to lower costs would be eliminating the public benefits charge, saving $600 to $700 for an average family.

“We need state action and state policies that will lower the cost of electricity for today, for tomorrow and for the long run,” Fazio said.

Eversource customers expressed frustration on any potential hikes.

“It seems everything is going up,” Dave Oinch, of West Hartford, said.

“It’s frustrating. It’s very frustrating,” Jennifer Elridge, of Torrington, said.

Eversource said these costs remain estimates until they come up for a rate case. Needleman said that’s likely to happen at the end of this year.