Statement on Proposed PSNH Rate Increase

Once again PSNH is forecasting a rate increase beginning July 1, 2014.  As part of their required forecast to NH regulators, PSNH is anticipating a 1.7% rate hike.

As New Hampshire’s leading residential electricity supply company, ENH Power finds it curious that PSNH spokesperson Martin Murray would suggest that somehow third party supply companies are partly to blame for their own increase.
Various news reports quote Mr. Murray as saying:

“Independent suppliers have acknowledged that they move customers back to PSNH when market prices are higher than our Energy Service rate,” Murray said. “That requires us to then purchase higher priced energy from the market to meet demand above and beyond what our more economical power plants produce. Part of our July 1 adjustment is to recover the incurred cost.”
With 55,000 customers, Provider Power is the largest residential Competitive Electricity Supplier in NH.

According to Emile Clavet, co-owner of ENH Power, “We purchase all of our customers’ power for the duration of their contract, at the time of enrollment, at a fixed price.  This means that customer’s have a known fixed rate for their electricity and are not affected by pricing variations in the electricity market for their entire contract length. As a result, there is no need to move customers back to PSNH because our prices are lower and fixed.”

ENH Power is part of the Provider Power family of companies including Electricity Maine and Provider Power Mass.  All three companies offer competitive, fixed rates for residential and business consumers.

Posted on May 8, 2014 in ENH Power

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