Shop To Beat Basic Service Rates
MA energy customers are less than a month away from an electricity rate hike. And that means another winter of high energy bills. While winter rates are better than last year’s, you should shop for cheaper rates. Let’s talk about what you can do about the DPU approved basic service rates.
What Happened To Service Rate Changes
Late last month, we talked about DPU changes to basic service rates. Specifically, that the two most expensive months of the year; January and February, would be split between two payment periods. The idea was supposed to keep rates more even all year round and avoid dramatic rate spikes.
The supply rate schedule changes are coming, but the 6-month split won’t formally begin until August 2024. For now this means that National Grid customers will see their new rates on November 1 2023. Meanwhile, Eversource rates will change on January 1, 2024.
Compare Winter Basic Service Rates
Compared to last year, the rate change might not seem so bad. Especially since MA rates are about 46% less this year than they were in 2022. However, it isn’t all sunshine because National Grid customers will see their basic service rates rise from 14.115 cents per kilowatt-hour (kWh) to 18.213 per kWh. This is nearly a 29% increase. National Grid estimates that given the state’s average of 600 kWh of energy used each month, this could mean monthly bills of around $213.
Shop Now Beat Basic Service Rates
Since natural gas rates are extremely volatile, we can’t bank on rates dropping significantly next year. Thankfully, we are currently within the fall shoulder month pricing periods. The weather is mild, so there’s less demand for heating energy and that means electricity rates are lower.
So, now is the perfect time to shop for long-term fixed rates. Fixed rate plans lasting 12 – 36 months could not only save you big from now until next August, but may even save you money now into well-past the new year. Some companies offer energy usage tools and assistance to help you meet your energy saving goals. Some excel in providing top-quality customer service experience. Best of all, many energy companies do not charge early termination fees on their plans. So you can save now and cancel or switch for better deals without any extra cost to you.
Check Out Best Energy Rates
Next month’s rate hike means a significant increase in bills for National Grid customers. And it could hit especially hard if this year’s winter is particularly cold. But you can save now if you shop for the best rates. And you can always shop for cheap energy at https://www.maenergyratings.com. You can also count on us to keep you up to date on the news that could affect your bills.