National Grid filed its new electric rates for Massachusetts with the state Department of Public Utilities, and the outlook is not pretty.
National Grid residential customers’ monthly bills will generally increase from $179 last winter to $295 this winter!
Why the ridiculous price jump? Because of high natural gas prices, simply put.
Natural gas-fired power plants still supply at least half of New England’s electricity. It’s no secret the cost of obtaining gas has skyrocketed this year following Russia’s invasion of Ukraine and as a result the lack of natural gas in Europe.
But there is a bright side!
To help customers cope with this skyrocketing cost, National Grid has launched what it calls a “winter customer savings initiative.” Essentially, it is an effort to highlight some of the options customers have to mitigate costs.
The initiative includes energy savings programs, flexible payments to spread out spending, and discounted rates for low-income customers.
