NSTAR proposes electricity rate cut

NSTAR said it is proposing a price cut for its nearly 800,000 residential electric customers, thanks to a decrease in prices for oil and natural gas, two fuels used to generate electricity.

According to an NSTAR press release, the company is proposing a "new rate that is 3.7 percent lower than current prices and 30 percent lower than prices one year ago. If approved, the average NSTAR customer will be paying almost $20 less a month beginning Jan. 1 than they did in the first half of 2009. Nearly 800,000 customers in NSTAR's service territory will benefit from these price cuts."

NSTAR's proposed rate change requires state approval.

Headquartered in Boston, NSTAR transmits and delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts. (Globe Staff)