NStar, which delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts, has proposed an electricity rate cut that could save residential customers about $2.30 a month.
The proposal, which needs approval from the state Department of Public Utilities, would mean a new rate would be about 6 percent lower than the one currently in effect, NStar said.
Abundant natural gas is the reason NStar can lower the rate to a six-year low, chief executive Thomas May said in a statement. Natural gas is the fuel used most to generate electricity in the region. If approved, the new rate would go into effect in July and continue through the end of the year.