Eversource Winter Rate Hike Is Coming
Breaking news just came in that might affect your holiday plans. Back in November, Eversource filed new basic service rates for the Nstar East (Boston) area. That means many MA basic service ratepayers could face expensive winter bills. But your electricity rates might spike even higher in the months to come. Here’s what you need to know about the east MA energy rate hike.
How High Is Eversource Hiking Rates?
On January 1, 2024, Eversource basic service rates rise to 17.251 cents per kilowatt-hour (kWh). This is a 7% rise from the current rates (16.078 cents per kWh). To put this in perspective, the MA average consumer uses about 577 kWh of electricity per month. So, that means the current average monthly supply charge is about $93 per month. In the new year, this rises to supply charges of about $100 per month.
Eversource Transmission Rates Could Rise
On top of this, MA governor Maura Healey signed a budget that allows utilities to raise rates to cover their costs for completing a transmission line. This line would bring Canadian hydropower to the New England grid, which could reduce dependence on natural gas fueled energy. While rates would have to be approved by the MA DPU, customers can expect higher delivery charges.
We can’t predict by how much your MA energy bill could rise. But the cost of the project grew to $1.5 billion due to delayed construction and inflation.
What Energy Shoppers Can Do
As you can guess, many homes are shopping now to find the cheapest Massachusetts electric rates to cut their bills. Luckily, natural gas prices are staying low so there’s some great deals to available.
For instance, if you shop for Constellation energy plans, you could lock in with their 36 Month Home Power Plan. This plan charges 14.69 cents per kWh, which averages a monthly supply charge of about $85 (about $15 less than the January Eversource basic service rate). In addition, Constellation sends out regular energy usage emails to help you track if you’re meeting your energy saving goals.
Alternately, you could support renewable energy development with Green Mountain Energy. Their Pollution Free Reliable Rate plan charges a 16.40 cents per kWh for 12 months of green energy. This averages to a monthly supply charge of about $95 ($5 less than the January rate). On top of this, Green Mountain Energy does not charge an early termination fee. So you can switch or cancel for better rates at no extra cost.
You can always shop for the best energy rates in town at https://www.maenergyratings.com. Be sure to count on us as well for tips and news that could help you save on your energy bills.