The cost of electricity from Eversource and Unitil is set to decline in February to approximately the same rate, marking a sharp year-on-year decline for Unitil, Concord’s main power utility.

The Public Utility Commission has approved an energy rate of 8.6 cents per kilowatt-hour for Unitil and 8.9 cents for Eversource starting in February, in what is known as the winter rate.

Rates are set twice a year for regulated utilities, in February and August.

This winter rate is an 18% decline for Unitil from the current summer rate, which was set in August, and a 14% decline from the summer rate for Eversource.

It is a similar year-on-year decline for Unitil compared to their 2023 winter rate of 10.6 cents. However, Eversource’s previous winter rate was much less – 8.3 cents – meaning the proposed 2025 winter rate is actually a slight increase from a year ago.

Savings on monthly bills depends on usage, of course. A home using 600 kWh a month would save around $10-$12 compared to current bills.

The state’s third utility, Liberty, has not yet had its winter rate announced.

The price of electricity makes up about half the typical monthly power bill for residences, called the supply charge. The remainder of the bill, called the delivery charge, covers the cost of maintaining the power grid and utility operations.

Requested increases in the delivery portion of the bill helps explain why Eversource’s supply rate is projected to decline 14% yet the company estimates the total bill would decline only 6% for a home using 600 kWh a month.

The price of electricity has gone up and down in recent years, rising above 20 cents per kwh cents in 2023.