Compare New London, CT electricity rates and plans (April 2025)

Best New London, CT electricity rates

In the city of New London, you can find electricity rates that range from 9.20 cents to 33.14 cents per kWh. The best electricity plans in New London for you depend on how much power you use and when you use it. Comparing companies is the best way to find better rates. Below are some rates from popular electric companies in New London.

Because Connecticut has a deregulated electricity market, New London residents have the flexibility to shop around for a cheaper electricity bill. Many states don’t offer this choice. If you’re looking to reduce your energy bill, consider switching to a different provider or plan. New London electricity providers offer different types of plans for residents and businesses to satisfy a range of needs.

Average cost of electricity in New London, Connecticut

According to our data, the average electricity rate in New London is 24.31 cents per kWh. This equates to an average residential bill of $172.16 per month. Our data also shows the average resident in New London uses 708 kWh per month. Below, you can see how New London's electricity rates compare to the averages in Connecticut and the United States.

Since the average price is 24.31 cents per kWh or $172.16 per month for residential electricity, prices lower than these can be considered affordable. Electricity rates in New London, Connecticut depend on your home size and usage, so the kWh rate is more useful when comparing your rate to the average.

Best electricity plans

We've analyzed the prices, terms, and conditions of popular New London electricity plans. Below are our picks for the best residential plans in the state.

Compare New London electricity providers

There are 7 electricity providers in New London, CT. While some providers only serve specific areas, you have multiple options for electricity wherever you are. Different providers can offer different specials, plan types, and sales throughout the year. However, always read the fine print of the energy plans you consider to avoid hidden penalties.

Business electricity rates in New London, CT

Commercial rates are typically cheaper than residential rates in New London, Connecticut because businesses consume a lot of energy. This means they get a volume discount on electricity. Think about how much power a corner store might use to run HVAC, refrigeration, security systems, lighting, and computers. It adds up. Our data shows the average business in New London pays 18.81 cents per kWh for electricity and has an average bill of $109,284 per month. They also use 5,810 kWh per month, which is a big increase from the residential average of 708 kWh.

Finding ways to reduce overhead costs is essential as a business owner. You have the opportunity to do that in a deregulated electricity market. Even reducing your electricity by one or two cents per kWh can make a huge difference when you have a high monthly bill. Compare commercial electricity rates to find the plan that makes the most sense for your business.

Best commercial electricity plans

Below are the top commercial electricity plans in New London, Connecticut.

How to switch your New London electricity provider

While New London residents have access to multiple electricity providers, understanding the switching process helps guarantee a smooth changeover between companies.

You'll need to plan ahead since suppliers require up to two weeks to process applications.

Here's how to switch your electricity company in New London:

• Compare rates using tools like the one on our page
• Select a supplier and plan that fits your needs
• Submit enrollment at least two days before your meter read date
• Wait for the switch to occur on your next billing cycle

Remember that if you don't choose an alternative supplier, you'll automatically receive Standard Service through UI or Eversource, with rates that change every January 1st and July 1st.

Best time to switch electric companies in New London, Connecticut?

After understanding how to switch providers, knowing the ideal timing for making the switch can save you money and prevent service disruptions.

The best time to switch is at least ten days before your next meter reading date, which you'll find on your electric bill.

Key timing considerations:

• Standard Service switches take two business days
• Supplier changes require 2-3 weeks for completion
• Switches activate on your next meter reading date
• You'll need to settle any outstanding balances first

Consider your usage patterns and contract terms when timing your switch.

Longer contracts often offer better rates but may have stricter terms and potential cancellation fees.

New London's deregulated electricity market

Since Connecticut passed its deregulation law in 1998, you've had the power to choose your electricity supplier rather than relying solely on your utility company.

Under this system, utilities focus on delivering power through transmission and distribution networks, while generation is open to competition.

Here's how it works:

• Your utility company handles the physical delivery of electricity
• You can choose a competitive supplier for the electricity itself
• The ISO New England manages the wholesale market
• If you don't choose a supplier, you'll receive standard service from your utility

Despite deregulation's promise of lower costs through competition, Connecticut continues to have some of the highest electricity rates nationwide. This is why choosing your provider carefully is important.

Types of electricity plans in New London, CT

When choosing an electricity plan in New London, you'll see three main options that have different pros and cons:

• Fixed-rate: Predictable bills with terms from 6-36 months
• Variable rate: Monthly rate changes based on market prices
• No-contract: Quick activation and freedom to switch providers

Before selecting a plan, evaluate your energy usage patterns and compare offerings from different providers.

Remember that Eversource (formerly Connecticut Light & Power) and United Illuminating handle the physical infrastructure regardless of your chosen supplier.

Compare New London electricity rates

Compare New London electricity rates to save money and avoid overpaying in the deregulated market. Bills can vary greatly, with rates between 9 to 33 cents per kWh across different providers and plan structures. Take the time to read the fine print and do the math to figure out which is your best option.

Electricity rates for cities near New London, Connecticut

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New London, CT electricity rate FAQs