Basic Supply Rate Spike 2023
Bad news is looming for Eversource’s MA energy customers. That’s because the utility’s basic supply rate is heading for a sharp spike right after New Year. So, what costs can MA residents expect from their city electricity rates and what can be done about it? Let’s talk about what you can do before Eversource MA raises its basic supply rate.
New Eversource Basic Supply Rate
Earlier this month, Eversource filed their new basic supply rates for MA customers. Now, we know that rates will rise to 21.864 cents per kilowatt-hour (kWh). This is a 42% increase from the current rate of 15.348 cents per kWh and will last from January 1 through the end of June 2023.
To put it in perspective, EIA’s monthly bill report says that MA uses an average of 596 kWh of energy per month. The current rate means an average monthly energy supply charge of about $91. In January, this will rise to just over $130 a month on average.
Shop Cheapest Electricity Now
Thankfully, MA customers do have options to save money. One of the best ways to keep your electric bills low is to shop the cheapest electric rates in MA. However, with Thanksgiving weekend behind us, there isn’t a lot of time to act before the new rates kick in. The energy companies below have plans that might save you money if you act fast.
Best Electric Rate In MA
Constellation has you covered if you are interested in the best possible savings right now. Their 36 Month Home Power Plan charges a 17.99 cents per kWh. Which equals an average monthly charge of about $107. In addition to being cheaper, Constellation also provides customers with energy usage monitoring emails. Smart energy customers can use the information to help save energy and money. On top of this, you can earn $50 gift cards with Constellation’s refer-a-friend program.
Cheapest Green Electric Rates
Constellation’s 24 Month Green Home Power Plan offers renewable energy for 24 months at a 19.99 cents per kWh rate. This means an average monthly supply charge of about $119. Constellation customers would be able to enjoy the benefits of energy usage emails and their refer-a-friend program.
On the other hand, you might consider Verde Energy’s Clean Power 12 plan. Verde Energy charges 20.79 cents per kWh for 12 months of renewable energy. This rate equals an average monthly supply charge of about $123. The main draw to this plan is that Verde Energy doesn’t charge an early termination fee. Which means that you can switch or cancel at any time if you find a better deal. In addition, customers can save money on shopping, dining, and travel with the Verde Energy Rewards program.
Save Money On Electric Rates
It seems MA energy customers can’t catch a break this fall. Eversource’s Basic Supply Rates are spiking right in time for a cold winter and holiday spending. But Eversource customers might save money if they shop now before the January rates go into effect.
You can learn more the energy industry in Massachusetts as well as how to shop electricity rates and plans at https://www.maenergyratings.com.