November 8, 2017

OCC: Electric supplier customers saw higher price spread in Aug.


Customers who use a third party electricity supplier paid more in August than they would have if they had contracted with the state's major utilities, according to a new state report.

Eversource and Avangrid residential customers who are contracted with third-party electricity suppliers paid a total of $4.2 million more in August than they would have under standard offer pricing from the utilities, according to a monthly report from the Office of Consumer Counsel.

More than half of supplier customers in Eversource's territory collectively paid $2.7 million more than the standard offer during the month, down from 92.6 percent last August. Meanwhile, 81 percent of supplier customers in Avangrid's territory collectively paid $1.5 million more than the standard offer, up from 79.5 percent in the year-ago period, according to the OCC report released this week.

From Sept. 2016 to August 2017, Connecticut's residential customers paid a total of $60.6 million over the standard offer, down from $62 million in the comparable rolling-year period.

Third-party suppliers' market share was also down over the last 12 months. Suppliers served 24 percent of Eversource customers in the recent month, down from 31 percent, while suppliers served 35 percent of Avangrid customers, down from 36.5 percent, the OCC said.

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