National Grid has announced its winter heating season rates for electric customers in Massachusetts, effective November 1, 2023.
As proposed, monthly electric bills are expected to be 27% lower than a year ago, driven by winter electricity supply costs 46% lower than the 2022-23 winter heating season. The monthly bill of a typical residential electric customer using 600 kWh will decrease from $293 during the 2022-23 winter heating season to approximately $213 during the 2023-24 season.
The change in electricity supply costs is partly due to stabilizing global energy markets and a recent decision by the Massachusetts Department of Public Utilities that shifted National Grid's procurement schedule, allowing for more stable rate fluctuations throughout the year. National Grid advocated for this change, and they're hopeful this will reduce future price volatility for their customers.
National Grid will continue to offer its Customer Energy Saving Initiative, whereby customers can meet directly with National Grid representatives and energy assistance partners to get help controlling energy costs and enrolling in available financial assistance programs.