Utility Company Wants Electricity Rate Increase
By NBP Staff | January 17, 2017, 13:56 EDT
A utility company that provides natural gas and electricity to much of Massachusetts wants to increase electricity rates 7 percent next year in the eastern part of the state.
That would be an increase of $8.45 a month for a household that uses 550 kilowatt hours of electricity.
Eversource reports a “revenue deficiency” in eastern Massachusetts of about $60 million, according to a written statement from the company.
The company is also touting infrastructure enhancements it says will increase performance and reliability. One of those is providing outlets for electric cars. Another is improving cybersecurity from online hackers.
Increasing tree trimming and accommodating solar panels are also cited by the company to justify the increase.
If approved, the increase would take effect January 1, 2018. The Massachusetts Department of Public Utilities has to hold hearings and vote on the proposed increase before it would occur.
Eversource Energy is the current name of the Connecticut-based utility company that acquired the former NStar in 2012 and rebranded all its holdings under the new name in February 2015. (The company was formerly known as Northeast Utilities.) NStar was the company that acquired the former Boston Edison years ago.
Eversource provides electricity for about 1.4 million homes and businesses in 140 towns and cities in Massachusetts; and natural gas to about 300,000 homes and businesses in 51 towns and cities in the state.
