Lower February Basic Service Rates
Many families are worried about their winter heating costs this year. It’s easy to see why when many homes are struggling with rising energy costs and the current winter heating crisis. But great news has arrived, which could spell lower residential heating costs early next year. Here’s the big scoop on how National Grid is set to lower residential basic service rates in February.
National Grid Basic Service Rates
Since August, the National Grid basic service rate has been 17.185 cents per kilowatt-hour (kWh). Customers using a monthly average of 570 kWh have been paying just shy of $98 in supply charges. However, on February 1, 2027, the rate is going to decrease by about 6%. National Grid has filed to cut its basic service rates to 16.077 cents per kWh. To put this in perspective, the average kWh usage would cost close to $91 in supply charges. Of course, keep in mind that MA homes tend to use more power during the winter, especially during potential winter cold snaps.
Compare Eversource Basic Service
Eversource recently filed new rates for their WMA customers as well. On February 1, 2027, basic service rates are dropping from the current 15.934 cents per kWh rate to 14.854 cents per kWh (about 7% lower). This means going from a monthly supply charge of about $90 to about $84 for 570 kWh. And while Eversource hasn’t announced its rates for eastern MA customers, those are expected soon.
MA Heating Oil Cost Crisis
Unfortunately, families heating their homes with heating oil are still facing high prices. Folks using oil heat are seeing tank-filling costs go over $1000! While this year’s Super El Nino suggests a warmer-than-normal winter, New England may experience severe cold snaps. As a result, many homeowners are wondering how they can afford to fill heating oil tanks in time for winter. Many families have already applied for the MA middle-income heating oil relief program. Applications are already up by more than 50% over last year.
Should You Shop Electricity Rates Today?
Even with basic service rates lowering this February, they usually hike back up in later in the year. So, it’s always a good idea to shop and compare fixed rate electricity plans that lock in lower rates for longer. Some MA electricity plans come packed with incentives that can add extra value, especially for frequent shoppers or diners.
Start shopping for the best plan today at https://www.maenergyratings.com. You can also count on us for news and tips that could affect your bills.