National Grid files proposal for electric rate cut

A proposed electric rate cut at National Grid would save the average customer about $115 starting May 1.
Published: Mar. 16, 2023 at 11:58 AM EDT|Updated: Mar. 16, 2023 at 3:52 PM EDT
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SPRINGFIELD, MA (WGGB/WSHM) - There was big news from National Grid on Thursday when they proposed a rate cut for electric customers starting May 1.

A proposed electric rate cut at National Grid would save the average customer about $115 starting May 1.

“We’re pleased that these new electric rates will provide some relief for customers when they go into effect in May. We certainly recognize that high energy costs have posed a real challenge for many of our customers this winter,” said National Grid spokesperson Bob Kievra.

Kievra told Western Mass News that the Massachusetts Department of Public Utilities still has to accept the proposal that was filed on Thursday, but he shared what customers can expect if it is approved.

“We’re about two cents a kWh higher than last summer, but certainly still better than we were during the winter. It’s important to point out that the reduction is because of the cost of electricity…As the cost of natural gas rises and falls, it affects the cost of electricity, which we just pass along to the customers without profit or markup,” Kievra explained.

He told us this is based on a summer rate adjustment proposal for a six-month period. If approved, the monthly bill for a typical customer would be reduced by about 39 percent or around $115 from about $297 to $181.

As for if Eversource has plans to reduce their electric rates, spokesperson Priscilla Ress told us in a statement, in part:

“The supply rate is based on the current market price of electricity; we do not know what the new summer basic service rate will be.”

Ress added that those rates would go into effect on July 1 whereas National Grid is on a different schedule and summer rates begin on May 1. Meanwhile, State Senator John Velis told us this announcement is a step in the right direction for people in the Bay State.

“It’s still the main issue that I hear from constituents today is affordability in Massachusetts with us at grocery store or energy or gas fill in the blank, going out to a restaurant. People are hurting any time, so then it just comes around good news as welcome news and it needs to be accepted,” Velis explained.

National Grid told us they don’t have an exact date for when the Department of Public Utilities might act, but they hope their proposal is approved within the next week.