![]() ![]() They make their money by building poles and wires, and delivering electricity to your home. Utilities do not make a profit on the electricity they provide you, so the price they pay in the market is passed on directly to you. To calculate rates, utilities estimate how much power they’ll need for the next six month period, and then sign contracts with various suppliers. Massachusetts ratepayers who are on the basic supply rate with utilities like National Grid and Eversource see the the cost of electricity change twice a year. "We certainly recognize that high energy costs have posed a real challenge for many of our customers this winter." "We're pleased that these new electric rates will provide some relief for customers," said National Grid spokesperson Bob Kievra. With the change, the average consumer who uses 600 kilowatt-hours of energy per month would see their bill decrease by about $115, the company says. In a March 16 filing with the Department of Public Utilities, the company proposed decreasing the basic supply rate - the raw cost of the electricity you use - by 58% beginning May 1. The new basic service rates will go into effect on May 1.Īfter a winter of sky-high electricity prices, National Grid announced that it’s seeking a big rate decrease for its Massachusetts customers. Update: On March 21, the Department of Public Utilities approved National Grid's proposed rate change. Facebook Email An electricity meter on a house in Cambridge. ![]()
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