NSTAR Electric Delivers Summer Price Decrease
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.