Connecticut Utility Rates Increase 20%

January 14th 2014 – The first of the year brought about many great changes, however, when it comes to Connecticut’s electricity supply rates, they have increased approximately 20% from 2013 for both Connecticut Light & Power and United Illuminating customers. Therefore, any customers that are still using CL&P or UI as their default supplier and haven’t switched, will experience a much larger bill each month as long as they are with the utility.
CL&P and UI’s electricity supply rates were on a steady decline over the past few years until now, however, with several highly competitive electricity suppliers to choose from, Connecticut residents and businesses have plenty of options to choose from to lower their energy costs versus staying with the utility.
Connecticut Light & Power and United Illuminating purchase electricity on longer term contracts than the competitive suppliers who buy it on shorter terms which can help allow the alternative suppliers to be more competitive when the utilities are not
.
Connecticut continues to be one of the most active deregulated markets in the country due to the fact that they have consistently had some of the highest electricity rates. As a CL&P or UI customer, it is a great time to switch suppliers to save money with the new utility rate increases.