Default Electric Service Rates Rise in August
It’s reasonable to expect electricity rates to rise during the summer months. It’s a natural result of hot temperatures, increased demand from AC, and all those vacation days spent at home. But basic service rates are rising this year and what can you do about it? Well, with that rate hike starting August 1, you have plenty of time to compare Massachusetts electricity providers!
Compare Basic Service Rates
Starting August 1, National Grid customers will see their basic service rise to 16.669 cents per kilowatt-hour (kWh). This is an almost 13% hike from the current 14.751 cents per kWh rate. Keep in mind that cost adjustment factors (BSACF and SGCCAF) could nudge this as high as 17.290 cents per kWh. Meanwhile, Eversource customers in Eastern MA will see their basic service rates rise on August 1 from 15.629 cents per kWh to 17.323 cents per kWh. This is an 11% increase in monthly bills for basic service customers. Eversource customers in Western MA will see an almost 16% rise from 13.683 cents per kWh to 15.934 cents per kWh.
In terms of bills, MA customers use an average of 570 kWh of energy per month. So this means National Grid basic service charges are rising from an average of $84 a month to about $95 (before cost adjustment factors). Meanwhile, Eastern MA Eversource will see their supply charges jump from $89 to about $98! While Western MA Eversource customers may see supply charges close to $90 on average.
Rates are set to last from August through the end of January. This means unless you shop fixed rate plans now, you’ll be paying increased rates from the tail end of a hot summer through some of the colder winter months.
Green Energy MA Bill Savings
However, good news has also just blown in on reports of the state starting its power contract with Vineyard Wind. Power from the off shore wind farm is expected to cut bills by 1.4 cents per kWh for the next 20 years. While this doesn’t seem like much, it could open the door to further savings as more green energy projects come online.
Cutting Your MA Bills Today
As you can guess, most families need to cut their bills down sooner rather than later. So it’s important to find ways to save more energy around the home. Small things like raising your AC thermostat settings by a few degrees can help cut your power bills. But the best way is to shop and lock in the best Massachusetts electric rates whenever you can.
Though rates rise in August, you can start your shopping right here on https://www.maenergyratings.com. You can also count on us for the news and tips that could affect your bills.