The continued rise of the cost of energy is a top issue for residents and business owners across New Hampshire and New England. According to the U.S. Energy Information Administration, New Hampshire and the other New England states have some of the highest electricity rates in the country. These high costs are largely the result of the region’s dependence on one fuel, natural gas, to generate roughly half of its electricity. Although natural gas in recent years has generally been a more affordable fuel, New England lacks the pipeline capacity to reliably supply power plants when demand for natural gas is high, like during cold winter months. Lack of supply drives up the cost of natural gas, and in turn makes it more expensive to generate the electricity we need.
One way to reduce the cost of energy is by adding an affordable, non-gas source of electricity. Northern Pass will bring a reliable source of clean, affordable hydropower from Canada into the New England regional grid. This will lower energy costs by an estimated $62 million annually for New Hampshire customers by adding new supply to the grid. Eversource, the parent company of Northern Pass, is negotiating a Power Purchase Agreement with Hydro-Québec that would provide additional energy cost savings and stability for Eversource NH customers.