MA Utility To Drop Rates
MA electricity rates are incredibly steep. That means MA customers had to struggle to stay warm and keep the lights on this past winter. However, energy prices could turn around in May for many MA electricity customers. That’s because National Grid recently filed new default service rates for its MA customers.
Lower Rates For MA Customers
Starting on May 1, National Grid will drop its rate to 14.115 cents per kilowatt-hour (kWh). This rate will last until the end of October. This is a huge rate discount for MA customers who have been paying 33.891 cents per kWh since November of last year.
To put this in perspective, consider MA’s 2021 average monthly bill of 596 kWh of energy per month. That means the supply portion of National Grid bills will fall from about $202 per month to about $84. That’s 58% less than what many customers are paying.
Why National Grid Lower Rates
But why is this happening now? With 38% of US electricity generation coming from natural gas. electricity rates have been staggeringly high in New England. You may recall that in January, the Department of Public Utilities (DPU) have been investigating electricity services. The call for inspection came after MA lawmakers questioned DPU approved service rates. As it turns out, national gas prices had been falling since the start of the year. In fact, EIA predicts that electricity prices may plummet until July. So it is likely that lower rates reflect the cheaper cost of natural gas.
Cheap Rates For National Grid Customers
It may be tempting to sit on default service rates for now. That’s because National Grid rates will fall below most current energy supplier fixed rates. However, we are in the spring shoulder month period when MA electricity rates tend to be at their lowest. And competitive suppliers will likely need to cut their rates. Plus, the EIA prediction could mean rates may fall even lower. So don’t let the default service rate drop stop you from shopping for better rates.
Will Eversource Lower Rates
Eversource customers are likely wondering if their rates will lower as well. We won’t know for certain until they file their new rates. Nor can we predict how much the price difference could be. But with natural gas and electricity prices falling this spring, electricity customers in MA need to shop and lock in the lowest rate now. Especially before summer heat cranks up everyone’s AC systems.
National Grid Electricity Rates
After a rough few winter months, National Grid customers can finally look forward to a break. Lower rates means more money in your piggy bank just in time for spring. But prices are likely to rise again during the summer heat, so shop now! And the best place to find the cheapest electricity rates and plans is at https://www.maenergyratings.com.