Oldphile t1_j65odt4 wrote on January 27, 2023 at 9:59 PM

Reply to comment by CryptoRaffi in So Everscource jumped its price 155% right before the winter... by [deleted]

Eversource does not generate electricity. Every 6 months Eversource puts out for bids. One time I contracted with another supplier for 12 months and 6 months in Eversource had a better rate and I was stuck at the higher rate or pay a penalty to end the contract. BTW when you contract with another supplier you still pay Eversource for delivery which is currently about 1/3 of the bill. You do not have to buy electricity from Eversource, but you do have to pay them to deliver it.

CryptoRaffi t1_j66eb2c wrote on January 28, 2023 at 1:03 AM

Everscource and other power companies met before the hikes and agree they all up the rates then the gov approves it for most likely nice campaign contributions or other perks who knows.
Everscource then ups the delivery rate if costumers change to the companies that charge a little less as we all know they OWN the damn lines. All of them where I live in NH.
In Europe they capped the price of electricity so THIS could not happen. Gas companies made record profits, just like in this country, but over the the gov stepped in to help the people, not approve something to financially burden them even more.
https://ctexaminer.com/2022/02/17/eversource-reports-more-than-1-2-billion-in-profits-for-second-consecutive-year/

Oldphile t1_j66obvd wrote on January 28, 2023 at 2:20 AM

Maybe I wasn't clear. Eversource doesn't generate electricity and they buy elsewhere. They do not make any profit on the electricity they buy. They only profit on the delivery of electricity which is only 1/3 of the bill. The increase in delivery charges was miniscule compared to the 2X charge for electricity. The significant rate increase was due to the cost of electricity. You can shop for another electricity provider and may do a little better.

And it's not the government, it's the PUC.