NStar proposes electricity rate cut
NStar said it is proposing a 13 percent cut in electricity supply prices for the first six months of 2011.
If approved, the new price would be in effect between Jan.1 and June 30 and would save NStar's average residential customer about $3 a month compared to the first six months of this year, NStar said; many customers using an average of 500 kilowatt-hours per month would see their total bill drop from $86.68 to $83.66.
Nearly 800,000 customers would be affected by the proposed rate cut, NStar said.
The proposed rate is pending approval by the Massachusetts Department of Public Utilities.
“An abundant supply of natural gas, which is the fuel used most to generate electricity in our region, has helped to push prices down,” Tom May, NStar chairman, president, and chief executive, said in a statement.