NSTAR Proposes Lowest Electricity Price Since 2004
May 08 2012 - 10:26AM
Business Wire
Beginning July 1st, NSTAR’s residential customers can expect to
be paying the lowest electricity supply prices in eight years. The
new rate will be nearly 16 percent less than the one currently in
effect and will, on average, save NSTAR's
residential customers about $6.00 a month. If approved by
the Massachusetts Department of Public Utilities, the new rate
would be in effect through the end of December.
“We’re pleased to be passing along these significantly lower
electricity prices to our customers,” said NSTAR President Werner
Schweiger. “The drop is largely due to the continued decline in
natural gas prices, which is the fuel used most to generate
electricity in our region.”
As a regulated distribution company, NSTAR purchases electricity
from suppliers and passes the cost directly to customers who are on
the company’s Basic Service supply rate, with no profit to NSTAR.
Customers who enter into agreements to purchase electricity through
aggregate buyers or directly from suppliers are not affected by
this price reduction. By law, the Basic Service price for
residential customers changes twice a year, on January 1st and July
1st.
Though delivery charges vary slightly by region, the Basic
Service supply price for all NSTAR residential customers will drop
by nearly 16 percent, from 7.928 cents to 6.699 cents per
kilowatt-hour beginning in July. Customers of the former Boston
Edison Company using 500 kilowatt-hours per month will see their
total bill drop from $86.05 to $79.91. A 500 kilowatt-hour bill for
customers of the former Cambridge Electric Company will fall from
$79.28 to $73.14. Those in the former Commonwealth Electric
territory using 500 kilowatt-hours per month will see their bill
decrease from $90.33 to $84.19.
NSTAR is the largest Massachusetts-based, investor-owned
electric and gas utility. The company transmits and delivers
electricity and natural gas to 1.4 million customers in Eastern and
Central Massachusetts, including more than one million electric
customers in 81 communities and 300,000 gas customers in 51
communities. NSTAR is a Northeast Utilities company (NYSE: NU). For
more information, visit www.nstar.com.
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