Manchester, NH – Dec 2, 2008****Public Service of New Hampshire’s (PSNH’s) rates will likely increase on January 1, but at a lower level than originally forecast. PSNH today filed with state regulators updated calculations which will be used in establishing the company’s energy charge. The filing requests an energy charge of 9.92 cents per kilowatt hour (kWh) for effect on 2009, compared to the current charge of 9.57 cents.
If approved by the New Hampshire Public Utilities Commission (NHPUC), the monthly bill of a Residential customer using 500 kilowatt hours of power a month is expected to increase $3.53 to $85.48 or 4.30 percent. PSNH’s energy charge would continue to be among the lowest in New England.
In its preliminary filing in September, the company had calculated an energy charge of 10.51 cents/kWh. The new calculation incorporates falling oil prices, which have reduced costs associated with the production or purchase of energy.
Environmental Costs – PSNH’s energy charge next year will include new costs associated with state policies focused on reducing the region’s historic reliance on fossil fuels. The company anticipates about $7.6 million in costs associated with RGGI, the Regional Greenhouse Gas Initiative, aimed at reducing carbon dioxide emissions, and $10.7 million in costs associated with the Renewable Portfolio Standard, which is designed to promote the growth of new renewable energy generators.
PSNH’s energy charge is adjusted annually, based on the company’s actual cost of producing or purchasing the energy it needs to serve its customers. The new rate, once approved by the NHPUC, will be effective January 1, 2009.