The state’s Department of Public Utilities is ordering Eversource and National Grid to adjust their electric supply rates on a new schedule. Here's why the state hopes the change will make bills less volatile and more predictable.
But a new move by officials in Massachusetts aims to make these energy bill swings a little more smooth — and a little less shocking.volatile. That’s because the grid largely relies on natural gas, and natural gas prices are based on fluctuating global markets. To set their electricity rates, utilities like Eversource and National Grid take part in auctions a couple times a year and sign months-long contracts with electricity generators for the power they think they’ll need for the season.
Timing is everything: While many things affect the supply rate , the timing of the auctions is important. Typically, electricity prices in New England are the highest in the winter. And the current schedule used by Eversource and National Grid lumps the priciest months — January and February — into the same six-month rate period.
What that means for you: It’s worth noting that this change won’t really end up saving customers much money overall. But what it will do is smooth the ups and downs and the semi-annual rate changes. Your electric bill might be a little higher in the summer, but it won’t be as bad during those notorious winter months.
What’s next: The new schedule will be phased in over the next year. In the long term, DPU Chair James Van Nostrand echoedthat the state’s transition to cleaner sources of electricity will further “help stabilize energy rates,” not to mention “lower emissions and improve air quality.” In the meantime, DPU officials say they plan to keep working on procurement policy tweaks to make electric bills more affordable and predictable.
Coming in third: The preliminary eliminated 19-year-old Woburn mayoral candidate Omar Mohuddin, who got 19% of the vote.
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