People say there are only two guarantees in life: death and taxes. But if you live in New England, lately it seems expecting electric rate hikes in the winter is the third thing to add to the list.
The last couple winters residents and businesses alike have seen steep increases to their electric rate typically from October through March, before tapering back down for the rest of the year.
Winter 2023/2024 will be no different for some residents in New England.
While states like Maine and New Hampshire don’t plan on a short-term increase for winter 2023 (Maine increased the rate by a scheduled 1% earlier this year and will do so again for 2024; New Hampshire rates are actually lower from ow through January 2024 than last year) the same cannot be said for Connecticut, Massachusetts, Rhode Island, and Vermont.
Connecticut won’t see the $0.24 per kWh it did last year, but a hike is expected in January 2024
RI regulators approve electric rate hike for winter
It may seem so painfully obvious that it’s easy to skip right over, but the easiest and best way to combat the electric rate hikes is to use less electricity. As a business, that’s easier said than done. So much of how we conduct our day-to-day, regardless of industry, is driven by something requires power.
There are, however, some steps business owners can take to lessen the load of that power. Results vary, obviously, and some steps provide a greater impact than others but every little bit counts, and it all adds up.
5 Easy Ways for Businesses to Combat Electric Rate Increases:
1. Make sure doors and windows are properly sealed
2. Install dimmers and occupancy sensors in office or retail space
3. Upgrade lighting from fluorescent to LED
4. Avoid peak demand during business hours
5. Get energy-usage assessments of your huge equipment systems like a walk-in cooler and then optimize its performance
Number 5 is where a trusted partner like NRM can help. As a participating vendor of refrigeration controls solutions in the majority of utility-sponsored energy-efficiency programs throughout New England, our sole mission is to improve how your critical refrigeration system impacts your bottom line. One of the clearest ways we do that is by optimizing when and how your system runs so as to eliminate unnecessary energy waste.
The assessments are no-cost and typically take less than 20 minutes to complete. It’s an important step for something like a walk-in cooler or walk-in freezer as these are quite often the largest energy consumer at your business.
