As a former legislator and longtime advocate for residential ratepayers, I’ve spent the better part of two decades working on one core goal: lowering electric rates for the people of New Hampshire. Today, I’m writing to urge the legislature to support House Bill 760 — a common-sense measure that will protect ratepayers, strengthen free market competition, and bring much-needed fairness to our energy markets.
Whether I was serving on the House Science, Technology and Energy Committee or representing residential customers on the state’s Ratepayer Advisory Board, I always asked one simple question whenever a new energy policy came forward: How will this impact rates?
That question should be at the center of every energy debate in Concord. If rates go up, that’s a red flag. If rates go down, we’re on the right track. It’s that simple.
Under a new regulatory approach, the Public Utilities Commission (PUC), is allowing utilities like Eversource, Unitil, and Liberty to procure power in riskier ways. This new approach allows them to only partially lock in fixed rates for the power they need while leaving the remainder of their needs exposed to market risk and price fluctuations.
If the utilities make a bad bet and their exposed needs lead to higher costs than they anticipated, the PUC is then allowing them to shift these increased costs on all ratepayers, not just their customers. That means ratepayers who have chosen Community Power or a competitive supplier will still be on the hook for costs associated with a bad utility hedge.
HB 760 remedies this issue and ensures that default service should minimize customer risk and not hinder the development of competitive markets.
Whenever utilities or competitive suppliers make risky financial decisions and lose money, there’s always a temptation to pass those losses onto the backs of all ratepayers — including customers who had nothing to do with those deals. These hidden costs show up in mysterious fees on your electric bill, often buried deep where most people never see them.
This practice is fundamentally unfair, and it’s exactly what HB 760 seeks to end. The bill makes it clear: if a power supplier takes a risk and loses money, they — and they alone — should bear the cost. Not innocent ratepayers who never signed up for their service.
This is about accountability. It’s about fairness. And most importantly, it’s about protecting the very people who can least afford higher bills — residential customers and small businesses.
HB 760 helps preserve and strengthen competition by ensuring that all players in the energy market — from investor-owned utilities to community power programs — play by the same fair rules. If you take a risk and get it wrong, you cover your own losses. You don’t get to shift your bad bet onto every family and business.
Perhaps most importantly, HB 760 gives clear direction to the Public Utilities Commission: No more cost shifting. No more socializing losses across all ratepayers. This clear guidance will prevent endless regulatory disputes and create a stable, predictable market — one where competition can thrive and customers can benefit.
As legislators, the choice is simple: Stand up for fair markets and lower rates — or allow more hidden charges to sneak onto people’s electric bills.
The last thing New Hampshire ratepayers need is socialized cost overruns from investor owed utilities. HB 760 is the right bill at the right time. It protects ratepayers, promotes competition, and ensures fairness in our energy markets.
James M. Garrity of Atkinson is a member of the New Hampshire Ratepayer Advisory Board and Chair of the Atkinson Energy Commission. He is a former State Representative and Chair of House Science, Technology and Energy Committee
