(New Britain, CT – November 21, 2023) – The Connecticut Public Utilities Regulatory Authority (PURA or the Authority) today is advising Eversource Energy (Eversource) and United Illuminating (UI) residential and business customers of changes to standard service generation rates that become effective January 1, 2024 through June 30, 2024.

The following electric supply rates will be in effect for residential electric standard service customers starting January 1, 2024:

Standard service generation rates – or the “supply” portion of a customer’s bill – are adjusted twice each year in January and July, based on a competitive bidding process, and reflect regional wholesale electricity market prices.

PURA does not regulate the wholesale electricity market or its pricing. Instead, the Authority’s role in this matter is limited to ensuring the electric distribution companies conducted competitive procurements for the electricity and that both companies are passing through no more and no less than the actual costs of that electricity supply.

About 77% and 83% of Connecticut’s residential customers receive standard service generation from Eversource and UI, respectively. Remaining residential customers have chosen to receive their electricity from one of Connecticut’s licensed third-party electric suppliers, whose rates vary depending upon contract terms and energy sources.