Electricity Rates will Soar in the Northeast. Can You Guess Why?

December 18, 2022

Fun to look over the electricity prices by state, where you can see rankings in terms of price, and breakdown of generation.

NBC Boston:

National Grid and Eversource announced major price hikes this week that are expected to have a huge impact on Massachusetts electric and natural gas ratepayers heading into the cold winter months.

National Grid announced Wednesday that its electric customers will see a 64% increase on average in their electric bills, and a 22% hike in their natural gas bills beginning Nov. 1.

Eversource is on a different schedule and won’t be updating its electric rates until Feb. 1, but they said their natural gas customers will see an increase of about 38% on Nov. 1.

National Grid and Eversource are the state’s largest energy suppliers.

Here’s everything you need to know about the price hikes, and how to help minimize their impacts:

National Grid said the war in Ukraine is to blame, along with inflation and high demand. Most of the electricity is generated in New England by plants that burn natural gas, and National Grid is passing their increased costs on to customers.

Eversource, meanwhile, cited “global pressures” for driving up the price of natural gas worldwide, without offering specifics.

New Hampshire rates are even higher:

Below, Iowa is ranked number 30, – last year it was 35 – so showing that it still has significant exposure to natural gas and coal.

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One Response to “Electricity Rates will Soar in the Northeast. Can You Guess Why?”

  1. Mark Mev Says:

    As data points comparing my prices increases from Dec 2021 to December 2022:
    Mass:
    Electric: National Grid: 94%
    Gas: National Grid: 29%
    NH:
    Electric: Eversource: 59%
    Oil: Local Distributor: 63%


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