As natural gas prices increase nationwide, New Hampshire utility companies have been responding by raising electricity costs for all customers, residential and commercial.
The State of New Hampshire Public Utilities Commission has announced that beginning on February 1st, 2022, winter service costs are spiking from 8.826 cents per kWh (the current rate) to 10.669 cents. Larger customers will be paying 21.425 cents per kWh.
As the weather gets warmer and the rates go down, there will still be a higher price than before. New Hampshire businesses and homeowners who use natural gas for heating will see higher bills each year, especially in winter, as the trend of rising prices continues on.
This may be a contributing factor to the gradual switch to solar power and other renewable energy resources. The EIA expects 21.5 GW of solar energy to be added to the U.S. power grid this year, compared to 2021’s 15.5 GW.
Solar costs continue to drop, and more homeowners are using solar for cheaper energy bills, possible tax credits, and higher home value. If you’re interested in adding solar panels to your home, contact the team at Energy Shield to learn more.
Sources:
“Order Approving Adjustment to the Energy Service Rate for Effect February 1, 2022.” State of New Hampshire Public Utilities Commission, 21 Dec. 2021, https://www.puc.nh.gov/Regulatory/Orders/2021orders/documents/26-557.pdf.
Bulletin, Amanda Gokee-New Hampshire. “NH Electric Rates to Jump Due to Spike in Natural Gas Cost.” NH Business Review, 11 Oct. 2021, https://www.nhbr.com/new-hampshire-electric-rates-to-jump-due-to-spike-in-natural-gas-cost/.
“Solar Power Will Account for Nearly Half of New U.S. Electric Generating Capacity in 2022.” U.S. Energy Information Administration, 10 Jan. 2022, https://www.eia.gov/todayinenergy/detail.php?id=50818.
