Many Massachusetts customers who get their electricity through National Grid will see a big rate decrease beginning May 1. The utility says the average household will see its monthly bill drop by about $115.
Update: On March 21, the Department of Public Utilities approved National Grid's proposed rate change. The new basic service rates will go into effect on May 1., National Grid announced that it’s seeking a big rate decrease for its Massachusetts customers.
"We're pleased that these new electric rates will provide some relief for customers," said National Grid spokesperson Bob Kievra."We certainly recognize that high energy costs have posed a real challenge for many of our customers this winter." "Last fall, when we did our last round of six month rates, our electricity prices rose to a historic high," Kievra said., fossil fuel prices rose in 2021 as the global economy began to recover from COVID and demand for energy grew. They spiked again in early 2022 after Russia invaded Ukraine and sent energy markets into a frenzy.
An extremely hot summer that causes people to crank the AC could drive up the price of electricity, he added,"but I don't think we will return to last year's extremely high levels."
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