Can MA Senate Save Energy Reforms?
It’s no secret that MA energy bills are rising every year. It seems like more of our money goes towards data center energy demand and the rising cost of natural gas. However, the MA senate passed a bill that could spell big changes to Massachusetts electric rates. But what’s in this new energy bill and how can it help make energy more affordable? Let’s discuss why the MA senate voted to save MASS Save and other energy reforms.
What’s In The Senate Bill?
Late in June, the MA senate passed S.3143, “An Act to save ratepayers money on energy costs.” The energy bill has several moving parts.
First, it phases out the wasteful Gas System Enhancement Plan (GSEP). The program started in 2014 as a way for gas utilities to replace or remove leaky natural gas lines. But since then, the GSEP program and rising delivery charges could end up costing MA gas customers up to $40 billion more when it ends in 2039.
Second, the energy bill adds consumer protections and reins in deceptive practices that have caused energy shoppers to overpay about $738 million over the last 10 years. It also requires state efficiency standards to help consumers save energy on home appliances.
Senate Bill Supports MA Solar Energy
Solar power for your home could massively cut down on your energy costs. However, the upfront costs may not be viable for every family, even if the investment can pay itself off within 10 years. Fortunately, S.3143 creates a way to finance the initial costs for solar panel or battery storage installation. Part of the process would automate solar permitting to help increase the number of homes with solar. It would also make solar cost savings available for lower-income families. All told, the plan could save around $540 million and help the state shake off natural gas dependency.
How Senate Bill Protects MASS Save
The bill also works to protect MASS Save from a massive $1 billion budget cut. This is important, because the program has delivered over $55 billion in benefits to MA homes and businesses since 2012. MASS Save did this by helping homes with weatherization projects, purchasing energy-efficient tools and products, and making it easier to install clean energy appliances like electric heat pumps. In fact, reports suggest that for every $1 invested in the program, it has provided $3.40 in benefits.
How Will the MA Senate Bill Affect Rates
The senate passed the bill by a 32 to 8 vote. So now it heads to a committee to iron out the differences between the House and Senate versions of the bill. After that, the bill will be finalized and sent to the Governor for signing. At the moment, it’s a little early to predict exactly how the bill could affect average monthly energy bills. But, it does show a lot of promise for cheaper and cleaner MA energy.
In the meantime, you can cut your bills by shopping for electricity rates at https://www.maenergyratings.com. You can also count on us for the news and tips that could affect your bills.