Modest Rate Increases Ahead for NHEC Members

Decline in Co-op Power Rate Helps to Offset Other Rate Increases

PLYMOUTH, NH – The New Hampshire Electric Cooperative (Co-op) Board of Directors this week completed the two-month rate-setting process that will result in modest increases in member residential bills for 2025. Starting on Jan. 1, member bills will increase 1.7 percent (for 500 kWh a month) to support reliability and service improvements for electricity distribution to members. On Feb. 1, the new six-month default energy rate, which includes transmission costs, will increase member bills by another 1.6 percent.

The good news for members centers on the Co-op power rate. The new rate of 8.108 cents per kWh is a 6 percent decrease from the current rate, making this the fifth consecutive rate period to see a decline. These rates will be in effect through July 31, 2025.

Transmission rates, the cost of transporting the electricity to NHEC’s distribution system – which the Co-op does not control – are set to rise significantly in New England in 2025, resulting in a 30 percent increase to the Regional Access Charge, which is why rates will increase in February despite the reduction in the Co-op power rate.

“Even small rate increases are unwelcome, but the Board of Directors believes the approved distribution and energy increases are reasonable and needed to continue providing reliable service to members,” stated NHEC Board Chair Bill Darcy. “It is unfortunate that regional transmission costs over which NHEC has no control are increasing so much, but the staff and Board have made changes in other areas to keep rates for members affordable, especially when compared to other electric utilities in New Hampshire.”

“Affordability is a cornerstone of the Co-op’s five-year strategic plan,” stated Michael Jennings, incoming Interim President & CEO of the Co-op. “We are committed to managing the costs within our control and closely monitoring external factors that increase the overall cost of electricity delivery for our members.”

For more information about Co-op’s rates, including a current schedule of rates, please visit our website: www.nhec.com/rates-tariffs/.

About New Hampshire Electric Cooperative

Founded in 1939 and headquartered in Plymouth, NHEC is a nonprofit electric distribution cooperative that is owned by the members it serves. NHEC provides energy and energy solutions to 86,000 homes and businesses in 118 New Hampshire communities. Through its wholly-owned subsidiary, NH Broadband, NHEC is building fiber-optic networks to provide high-speed internet access to its members, regardless of their location. Learn more at nhec.com, or nhbroadband.com.