BOSTON –– Most residential electric customers in Massachusetts saw their utility supply rates increase on August 1, as Eversource and National Grid’s basic service rates increased. But residents can save significant money by shopping with a competitive electric supplier.
According to a new August rate summary analysis by My Energy Choice, retail electric suppliers have 132 fixed-rate offers available this month that are less than utility company rates for Massachusetts customers to enroll in. The lowest retail offers available in the state’s seven utility service territories range from .2¢ – 3.39¢ per kiloWatt hour (kWh) cheaper than the utility rate in each service territory. The statewide average savings customers could receive is ~16%.
Eversource customers in the BECO, CAMB and COMM service territories can save up to 23% on the supply portion of their bill, while National Grid customers in the WMECO territory can save up to 22%. Those saving percentages would equate to about $40 a month for a customer that uses 1,000 kWh per month.
Customers who prioritize green energy can also find offers for less than utility rates. The statewide average price for green offers (exceeding the state’s minimum clean energy requirement) in August was still 2¢ less than the statewide average utility rate.
A total of 241 competitive electric supply offers were available on August 13. Customers had 110 100% renewable energy offers to choose from.
This monthly rate summary analysis can be found here. Massachusetts residents can review offers from competitive energy suppliers using the state shopping website EnergySwitchMA.gov. View a guide to shopping here.
Data for this analysis is sourced from Massachusetts’ state-managed energy shopping website, EnergySwitchMA.gov.
