New Hampshire Leads in Residential Electric Rate Stability, Data Reveals

Photo byState of NH

CONCORD, N.H. — A new report from the Energy Information Administration's (EIA) "Electric Power Monthly" has highlighted the significant disparity in residential electric rate increases across New England, with New Hampshire maintaining more stable rates compared to its neighbors from 2017 to 2024. According to the data, on a cents-per-kilowatt-hour basis, residential electric rates have risen much more sharply in Rhode Island, Connecticut, Massachusetts, and Maine than in New Hampshire.

The report finds that Rhode Island's rates have surged 127% more than New Hampshire’s, followed by Connecticut at 94%, Massachusetts at 83%, and Maine at 70%. This stark contrast underscores different state policies and their impact on ratepayers.

Governor Chris Sununu credited New Hampshire's market-driven approach for the state's success in keeping energy costs low. "While other states have let politics drive policy, New Hampshire has always put the ratepayer's bottom line first," said Sununu. "We’ve taken a technology-neutral approach that doesn’t pick winners and losers, allowing residential customers across New Hampshire to benefit."

The New Hampshire Department of Environmental Services’ recent Priority Climate Action Plan reveals that despite the absence of stringent mandates, the state has achieved a 73% reduction in greenhouse gas emissions in the electric generation sector from 2005 to 2021. This has been accomplished while keeping electricity reliable and affordable.

In terms of cost comparison, Eversource residential customers in Boston, Massachusetts, pay a rate 77% higher than their counterparts in New Hampshire, and in Connecticut, the difference is 45%. For an average household using 625 kilowatt hours a month, this translates to nearly $90 more a month for Massachusetts families and $50 more for those in Connecticut.

Senate President Jeb Bradley and Speaker Packard echoed these sentiments, praising the Republican-led energy policy for its focus on deregulation and consumer protection. "New Hampshire's wise policies have protected our consumers, unlike the policies of our neighboring states in the region," Bradley stated.

The report also pointed to the heavy financial burdens imposed by renewable energy mandates in other states. For example, Maine’s net energy billing costs have skyrocketed, and Connecticut recently approved an increase in the Rate Adjustment Mechanism that will raise Eversource residential customers' bills by an average of $48 starting July.

New Hampshire’s Department of Energy Commissioner Jared Chicoine emphasized the benefits of the state's energy strategy, suggesting that New England as a whole would gain from adopting New Hampshire’s approach to energy policy.

This analysis highlights the significant differences in how states manage energy policy and the direct impact these decisions have on the cost of living for residents.