Massachusetts Electric Rates Top Highest In the Country

January 29th, 2015

This winter, electric rates skyrocketed for residents all across Massachusetts, topping a 35% increase for National Grid, and a 29% increase for NSTAR customers.  Residents could be paying some of the highest rates presented in the last decade; and recently published U.S. EIA data projects increasing power costs to remain the highest in New England states over the next few years.

WHY?

A spokesperson for NSTAR, Mike Durand, recently reported in a Boston Globe article that “Because of the current gas pipeline capacity issues, this supply rate is considerably higher than it has been over the past several years.”  Over 40% of Massachusetts’ electricity generation is derived from natural gas. The region’s dependency on natural gas, coupled with the volatility of winter markets and maxed out pipelines has led to spiking costs.

WHAT CAN I DO?

Good news! Massachusetts State Regulation 225 CMR 14.00 enables you to participate in Community Shared Solar projects, which allow you to cut electricity costs and lock in current electricity rates to protect yourself from escalating costs. If you live in Massachusetts NSTAR or National Grid utility territory, you have the opportunity to reduce your energy bill by up to 30% through the Shared Solar Programs offered in your area.

SAVE UP TO 30% ON YOUR ENERGY BILL

For Massachusetts residents in the NSTAR or National Grid territories, you can lock in your current utility rate and protect yourself against rate hikes like the one that has just happened. The Massachusetts Shared Solar Project 1 has already sold out with 185 subscribing households, both renters and homeowners. Only 200 households can subscribe for Project 2 and current capacity is showing 85% sold out. Call 413-407-0262 or visit www.communitysolar.com/ma to learn more and to see if your home is eligible to subscribe.