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IntelligentMeal40 t1_j64fgkb wrote

Actually this wasn’t just because of winter this was a long time coming, there are lots and lots of articles in the local online newspapers about why this happened, you would have to go back to the beginning of last year at least maybe even farther. I don’t remember exactly what happened but it was some deal the utilities companies made more than a year ago, and they knew this was coming, and people were complaining about it. I don’t remember the details but it wasn’t supposed to be like this and they didn’t raise rates just because it was winter they raised rates because of some screwup they did a year and a half ago.

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CryptoRaffi t1_j64gb05 wrote

thank you for the info, but it doesn't changes anything else I pointed out. Why the hell can they do that? Why does the government call in any tech company over monopoly issues but a company that controls the only electric poles and charges whatever the hell its wants is... emm... ok???

They even have meetings to agree on price hikes with other electric companies? If this were stocks, this would be illegal.

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Oldphile t1_j65odt4 wrote

Eversource does not generate electricity. Every 6 months Eversource puts out for bids. One time I contracted with another supplier for 12 months and 6 months in Eversource had a better rate and I was stuck at the higher rate or pay a penalty to end the contract. BTW when you contract with another supplier you still pay Eversource for delivery which is currently about 1/3 of the bill. You do not have to buy electricity from Eversource, but you do have to pay them to deliver it.

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CryptoRaffi t1_j66eb2c wrote

Everscource and other power companies met before the hikes and agree they all up the rates then the gov approves it for most likely nice campaign contributions or other perks who knows.
Everscource then ups the delivery rate if costumers change to the companies that charge a little less as we all know they OWN the damn lines. All of them where I live in NH.
In Europe they capped the price of electricity so THIS could not happen. Gas companies made record profits, just like in this country, but over the the gov stepped in to help the people, not approve something to financially burden them even more.
https://ctexaminer.com/2022/02/17/eversource-reports-more-than-1-2-billion-in-profits-for-second-consecutive-year/

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Oldphile t1_j66obvd wrote

Maybe I wasn't clear. Eversource doesn't generate electricity and they buy elsewhere. They do not make any profit on the electricity they buy. They only profit on the delivery of electricity which is only 1/3 of the bill. The increase in delivery charges was miniscule compared to the 2X charge for electricity. The significant rate increase was due to the cost of electricity. You can shop for another electricity provider and may do a little better.

And it's not the government, it's the PUC.

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