Electric Rates Set to Decrease May 1 for National Grid Customers in Massachusetts
WALTHAM, MA – National Grid announced today that Massachusetts residential electric customers who receive their electric supply, called Basic Service, from National Grid, can expect lower bills for the six-month period beginning May 1 based on a summer rate adjustment proposal filed today with the Massachusetts Department of Public Utilities.
If approved, the monthly bill for a typical residential customer would be reduced by about 39%, or $115.39, from $297.22 to $181.83.
The average residential customer uses about 600-kilowatt hours (kWh) per month and will see their electric supply price per kWh decrease from approximately 33.89 cents/kWh to 14.12 cents/kWh.
National Grid buys electricity on behalf of our customers from the wholesale power market and passes through those costs without any markup or profit, so customers pay what National Grid pays for that energy. National Grid moves from winter to summer rates every May 1, per our approved procurement schedule. Summer rates are traditionally lower than winter rates due to lower electricity prices driven, in part, by lower demand for natural gas.
“We understand that high energy costs have been challenging for customers,” said Helen Burt, Chief Customer Officer, National Grid US. “We are pleased that these new summer rates will help bring down the overall cost of electricity starting in May. We also know our customers pay bills, not rates. So, as summer heats up and customers use more electricity to cool their homes, we are continuing our Customer Savings Initiative to help customers save energy, save money, and secure available energy assistance.”
