Have you ever waited to open your utility bill, dreading this month’s expenses? Or worse, have you opened it expecting one number and finding one much higher? With countless business owners around Connecticut finding their electric bills exorbitantly high this summer, we’re here to break down the sudden utility rate increase and help give your business the power to choose.
What causes an increase in utility bills?
As many customers voiced their concerns about their higher-than-usual energy bills last month, the utility companies in the state attributed the trend to a combination of a hotter summer and COVID-19, which has kept people at home and using more power. The sudden increase in parts of the grid that are not prepared for such high usage caused congestion on the grid, resulting in another increase in delivery rates. An added benefit of a solar project is alleviating some of this congestion, thereby reducing delivery charges because it often requires much needed upgrades to the infrastructure.
However, customers also noticed something on their electric bills that could be attributed to either COVID-19 or a hot summer: United Illuminating and Eversource delivery charge increase. Eversource says this increased delivery charge was mostly due to payments associated with the state-approved power purchase agreement with Millstone Nuclear Power Plant, as well as an increased focus on high quality service to its customers. While we can all appreciate the benefit of high-quality service, wouldn’t you rather avoid sudden rate hikes that cut into your perfectly planned budget? Since commercial customers have expressed concern over the sudden increase in their bills, the rate increase has been suspended pending investigation.
How can you protect your business from UI and Eversource rate increases?
There is one clear choice: to power your business with solar. For most buildings across the state, switching to solar will reduce operating expenses, while protecting you from unexpected and unfair rate increases in the future. One option for developing your solar project is a Power Purchase Agreement (PPA). In this agreement, Verogy designs, builds, owns, and operates the system, and you buy the green power that the solar panels produce at a discounted rate from that of Eversource or United Illuminating. This rate is fixed for the entirety of the agreement, so you are protected from uncontrolled rate increases in the future. Another option is to own the system yourself, so you don’t pay anyone for the power generated on your roof! Explore our other CT solar services including project development, solar rooftop EPC, and more, to take hold of your power to choose.