Energy prices in the state are at all-time highs. This is partly because of the cost of fossil fuels. However, utilities are also responsible for maintaining the power grid and transporting electricity to homes and businesses. Consequently, these costs are a major factor in rate increases.
There are many energy providers in Massachusetts. These companies buy electricity from the wholesale market, then resell it to consumers. The rates vary by provider, and by location. But, the overall average electric bill in Massachusetts is around $267 per month.
Several energy companies in the state offer financial assistance programs to help people pay their bills. Some offer introductory rates for new customers. They may require a deposit, but a good credit score can waive this fee.
Eversource is a major utility company in Massachusetts. It provides electricity to about 29% of the population in eastern MA. It recently filed with the Department of Public Utilities for a 43% price increase. That means customers in eastern Massachusetts will see a $47 increase on their monthly electric bills.
National Grid serves 1.3 million customers in central and western Massachusetts. Rates have increased on Wednesday. Customers in the western part of the state will see an average bill increase of $39, while the average consumer in the eastern part of the state will see a bill increase of $49.
If you want to switch your electricity provider, it’s important to choose wisely. Don’t sign up for a variable-rate plan, which can be disastrous in a time of low supply. Instead, focus on the type of plan you’re signing up for, as well as where your energy is coming from.
