Eversource customers in eastern Massachusetts could see a 23% increase in their electric bills come January if the company's proposed rate increase is approved by the state Department of Public Utilities.
The company is requesting to increase rates from 17.9 cents per kilowatt-hour (kWh) to 25.6 cents per kWh, which would mean about a 23% increase in monthly bills, or an average of about $46.66 per month for residential customers. For perspective, last winter the rate came in at 15.8 cents per kWh last winter.
The increase is subject to approval. Eversource energy supply price rates change twice a year in Massachusetts -- on Jan. 1 and July 1.
This comes at a time of record high energy prices. The company cited global demand as one of the factors driving up the cost. National Grid, which also supplies eastern Massachusetts, increased rates on Nov. 1 -- changes that will see the average monthly electric bill increase by 64% and the average monthly natural gas bill up by 24%.
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These rates would apply to customers in eastern Massachusetts. The proposed rate for western Massachusetts has not been finalized.
It's not winter yet but people who spoke to NBC10 Boston on Friday night said their thermostats were already cranked up. With high prices impacting most facets of the economy, many are trying to save money any way possible, but there's concern now that Eversource costs are likely going higher.
“We’re definitely using the heat,” Kit Fintzel, of Waltham, said. “A lot of layers, the kids bundling up, a lot of blankets, too, my mother used to say a cold house is a healthy house, I think now I understand she was just being cost conscious.”
“I worry about the people who live paycheck to paycheck and cannot afford it,” Medway resident Suzanne Capozzoli said.
“It’s definitely frustrating, just because there’s nothing we can do about it, you have to have electricity, and they know it," Noldy Jovin said. "Everything is just skyrocketing, inflation is definitely here.”
Michael Walsh, a partner at Groundwork Data, a Massachusetts startup focused on renewable energy, says Vladimir Putin’s invasion of Ukraine is driving higher prices, because the US is helping supply Europe which cut off a lot of their fossil fuel and natural gas purchases from Russia.
“Natural gas is expensive this year which leads to an increase in electricity prices,” Walsh explained. "Americans are now starting to really feel the pinch of increased prices, particularly in natural gas and electricity which is derived and produced largely from natural gas.”
More on energy costs
If the new rates are approved, they’d be in effect from January through June. And then prices could fluctuate again beginning in July.
Eversource does offer payment plans and other forms of help for eligible customers. For more information on payment plans and assistance, click here. Eversource is offering a webinar for those concerned they may not be able to pay their bills. For more information on that, click here.
The high costs of electricity, natural gas and oil are causing concerns that more people won't be able to afford to heat their homes this winter. For more information about how to keep costs down or where to look for assistance, click here. Keep in mind, utility companies are not allowed to turn off gas or electric heat between Nov. 15 and March 15. If your heat gets shut off, contact the utility company directly. If that doesn't work, reach out to the Department of Public Utilities at 877-886-5066 or file a complaint involving a gas, electric, or water company online.
