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NH PUC Approves Eversource Energy’s Market-Based Procurement
Excerpts from the New Hampshire Commission regarding Eversource energy service (ES) rates order:
{***} “This order authorizes Public Service Company of New Hampshire d/b/a Eversource Energy (Eversource or the Company) to recover the costs of power supply through energy service (ES)1 rates for effect for the six-month period of February 1, 2025, to July 31, 2025. The updated ES rate for Eversource’s Small Customer Group, which includes residential customers taking energy service from Eversource, is 8.929 cents per kilowatt hour (kWh), which will result in a decrease in overall monthly bills for a typical residential customer using 600 kWh monthly and taking default ES from Eversource of approximately 5.9 percent, or $8.84, compared to current rates. This rate includes a charge of 0.904 cents per kWh for Renewable Portfolio Standard (RPS) compliance costs. The RPS costs represent approximately 10.1 percent of the power supply charges for residential customers.
The Commission also approves Eversource’s market-based ISO-New England procurement tranche of 30 percent of Small Customer Group load, and 100 percent of Large Customer Group load (which includes certain commercial and industrial (C&I) ES customers of Eversource), and associated Tariff features, as initially approved by the Commission in Orders Nos. 27,064 (October 15, 2024) and 27,022 (June 20, 2024), in this instant docket. This order also requires Eversource to prepare a filing delineating how it will accommodate an expanded ISO-New England market-based procurement component for its Small Customer Group in its upcoming August 2025- January 2026 ES rate period, as noted later.” {***}
{***} “II. COMMISSION ANALYSIS
We find that Eversource’s solicitation and bid evaluation procedures conform to the process approved by the Commission in Order No. 26,092, and re-confirmed in Order No. 26,733, and as modified by Order Nos. 27,064 and 27,022 in relation to the market-based component. See also RSA 374-F:3, V(c). Eversource’s solicitation of bids and selection of NextEra and Constellation to provide 70 percent of the power supply for the Small Customer Group for the six-month period beginning on February 1, 2025, is appropriate and satisfies the requirement that default energy service be procured through a competitive process that produces rates that are market based. See RSA 374-F:3, V(c).
We also find Eversource’s price estimates of RECs, which are reconciled annually, are appropriate and we approve the price estimates for inclusion in retail rates effective February 1, 2025. We also accept the Company’s 2023 ES Lead Lag Study used in the calculation of the working capital requirements for this ES filing, subject to the proviso that they are subject to reconciliation on any further review by the DOE, the Commission, and the Company itself.” {***}
PSNH: Docket DE 23-004
Public Service Company of New Hampshire d/b/a Eversource Energy
2024 Energy Service Solicitations
