Company recommends proactive approach in
preparation for upcoming heating season
WALTHAM,
Mass., Sept. 21, 2022 /PRNewswire/ -- National
Grid recognizes that our customers are facing challenging economic
times and that no one wants to see their energy bill rise. This
winter heating season, National Grid is launching the Winter
Customer Savings Initiative to help customers reduce their
energy use and save money, better manage their bills, and secure
available energy assistance.
The initiative brings together and expands National Grid's many
customer resources, including numerous payment assistance programs
for income-eligible customers, extensive residential and business
energy efficiency programs and incentives, low-cost and no-cost
bill management solutions, and flexible payment programs.
"We want to do everything we can to help our customers manage
through the months ahead through our Winter Customer Savings
Initiative, while maintaining high levels of service to meet
their energy needs this winter season," said Helen Burt, National Grid's Chief Customer
Officer. "This includes informing customers that they can 'shop' or
choose from different energy suppliers, in addition to taking
advantage of energy saving programs, including those supported by
Mass Save. We believe helping customers take more control over how
and what energy they use creates a more equitable and affordable
energy future."
With energy costs rising due to global conflict, inflationary
pressures, and high demand as the winter heating season approaches,
National Grid understands the impact this increased financial
burden can have on our customers and communities, especially when
we are all experiencing increased costs for other goods and
services. National Grid buys energy on behalf of our customers from
the wholesale market and passes through those costs without any
markup or profit, so customers pay what National Grid pays for that
energy.
National Grid is reaching out to customers to inform them of the
Winter Customer Savings Initiative using multiple
communications channels and through in-person Customer Energy
Savings events being held across Massachusetts. These events will raise
awareness of the choices and options customers have to reduce and
manage their energy costs, including through National Grid's many
energy and cost saving programs and payment options, such as
Balanced/Budget Billing, and other assistance programs. We are
going into communities and meeting customers where they live, work
and go about their daily activities to provide a convenient and
timely way to speak directly to a National Grid representative and
other assistance providers, providing a "one-stop-shop" to sign up
for money saving programs, enroll in energy assistance, and learn
about all available options.
"We know winter isn't far away, so we're encouraging and making
it easier for our customers to take action now and letting them
know that we are here to help," said Burt.
In addition to the extensive energy efficiency programs and
payment options, National Grid will continue to provide much-needed
financial support to our community partners and organizations that
help customers meet their energy and other basic needs during these
difficult heating months.
"We want to help customers every way we can and ensure they have
the opportunity to manage their bills this winter, save money and
get the assistance they need," added Burt.
Residential Electric Forecast
With prices for natural gas, which drive electricity costs,
significantly higher this winter due to global conflict, inflation
and high demand, electricity rates for National Grid customers that
take Basic Service will increase starting November 1st.
In total, the monthly bill of a typical residential electric
customer using 600 kWh will increase from $179 in the winter 2021-2022 season, to
approximately $293 for the winter
2022-2023 season, or a 64 percent increase, driven by higher
electric supply prices. National Grid moves from summer to winter
rates November 1st of each
year, per our regulatory schedule. Winter rates are traditionally
higher than summer rates, due to the high demand for natural gas.
To help minimize bill impacts this winter season, National Grid
worked to keep the delivery portion of the bill essentially flat,
which is the portion of the bill that pays for the infrastructure
to safely and reliably deliver electricity to our 1.3 million
customers.
"National Grid buys electricity on behalf of its customers from
the wholesale power market through a regulatory approved process
established 20 years ago. That process has served customers well
over the years and provides flexibility for unforeseen events, like
limited supplier response to solicitations. But things have
fundamentally changed," said Burt. "Today, under a sustained, high
market price environment, it is challenging to maintain affordable
prices. Given that, we think it's a good time to work with our
regulators and other stakeholders to review the process and
electricity supply dynamics in the region, with an eye toward
reducing price volatility and maintaining a secure, reliable and
resilient energy system for the future."
Residential Natural Gas Forecast
As with electricity, National Grid adjusts its natural gas rates
November 1st and
May 1st to reflect
seasonal differences in the cost of natural gas. Similar to
electric, National Grid does not profit from gas supply costs;
instead, customers pay what we pay for natural gas supply. The
company has a pending proposal with the Department of Public
Utilities that would result in a monthly bill for an average Boston
Gas residential heating customer using 115 therms per month of
$278, an increase of $50, or 22 percent, compared to rates last
winter. For an average Colonial Gas residential heating customer
using 107 therms per month, the typical bill would be $241, an increase of $47, or 24 percent, compared to rates last
winter.
About National Grid
About National Grid: National Grid (NYSE: NGG) is an electricity,
natural gas, and clean energy delivery company serving more than 20
million people through our networks in New York and Massachusetts. National Grid is focused on
building a path to a more affordable, reliable clean energy future
through our fossil-free vision. National Grid is transforming our
electricity and natural gas networks with smarter, cleaner, and
more resilient energy solutions to meet the goal of reducing
greenhouse gas emissions.
For more information, please visit
our website, follow us
on Twitter, watch us on YouTube, like
us on Facebook and find our photos
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SOURCE National Grid