May 24, 2007
Just in time for the all-important summer
electricity season, NSTAR Electric is announcing lower
supply prices for its customers. If approved by the
Massachusetts Department of Public Utilities, NSTAR’s
Basic Service rate for residential customers will drop
by eight percent. The new rates would go into effect on
July 1.
“Just when our customers start using more electricity
with air conditioners and dehumidifiers, we’re pleased
to provide a significant savings,” said Thomas J. May,
NSTAR Chairman, President and CEO. “We are always
working with customers to help them manage their energy
use and keep costs down, and securing the lowest energy
prices on the market is just another way we can do
that.”
NSTAR solicits bids from multiple wholesale energy
suppliers in order to obtain the best possible
electricity prices for its customers. These Basic
Service rates change twice a year for residential and
small business customers. The Basic Service charge
reflects the exact cost of the electricity NSTAR buys
and, in turn, delivers to local homes and businesses.
There is no money made by NSTAR on this charge.
Though delivery charges vary slightly by region, the
Basic Service price for all residential customers will
drop eight percent, from $0.1186 to $0.1084 per
kilowatt-hour. Customers of the former Boston Edison
Company using an average of 500 kilowatt-hours per month
will see their total bill drop from $96.92 to $91.82.
The average 500 kilowatt-hour bill for customers of the
former Cambridge Electric Company will fall from $100.13
to $95.03. For those in the former Commonwealth Electric
territory, the average bill will decrease from $98.35 to
$93.25.
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.
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