News Release
Electric Supply Rates Decline 13-15 percent
SPRINGFIELD, Mass., May 23, 2012 – Residential customers and small commercial and industrial (C&I) customers of Western Massachusetts Electric Company (WMECo) are expected to see electric supply rates decline 13-15 percent for the second half of 2012, as approved by the Department of Public Utilities. Medium and large C&I customers will see a slight increase.
Under Massachusetts law, WMECo is required to procure energy supply, known as basic service, for customers who do not purchase service through a competitive supplier. Basic service is bid twice a year for residential and small C&I customers and four times a year for medium and large customers.
“The most recent competitive bidding process for electric supply has yielded savings for our customers, largely due to decreases in the price of natural gas,” said Peter Clarke, President and Chief Operating Officer of WMECo.
From July 1 to December 31, residential customers on basic service will see a supply rate of 6.733 cents per kilowatt hour (kWh) compared to 7.741 cents per kWh for the previous six month period. For a customer using 600 kWh a month, the monthly bill would be reduced by about $5.90.
Small C&I customers will see a supply rate of 7.014 cents per kWh, compared to 8.264 cents per kWh for the previous six month period. Large C&I customers will see a slight increase in rates for the next quarter, with the new rate at 5.751 cents per kWh, compared to the current rate of 5.624 cents. The new rates reflect seasonal pricing.
Both residential and small C&I customers’ basic service supply rates change twice a year (in January and July) and remain in effect for six months. Medium and large C&I customers rates change four times each year.
Western Massachusetts Electric Company, a Northeast Utilities company (NYSE:NU), serves approximately 210,000 customers in 59 communities throughout western Massachusetts and is committed to the environment, economic development and the health of the communities it serves. For more information, please visit our website: www.wmeco.com. Friend us on Facebook, and follow us on Twitter: @wmeco.
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