Sep 24, 2014 | Trends

Published Utility Rates Hit Historic Highs

As of Friday, September 19, 2014, electricity consumers who have not yet secured their electricity requirements for the winter received more solemn news.

National Grid published its rates through January 2015 with medium to large (G2 and G3) rate classes, exceeding 18 cents ($.18592) in December and 24 cents ($.24994) in January for the Northeastern regions, with rates in West Central and Southeastern Massachusetts close behind. The spot market LMP prices witnessed in the previous winter will be exceeded by these historically high rates.

NSTAR customer rates aren’t much better, with rates greater than 13 cents ($.13/kwh) through December, while January stands unknown.

Published since January 2014, Central Maine Power (CMP) and Bangor Hydro are over 14 and 15 cents this winter, respectively:

Central Maine Power prices
Bangor Hydro prices

Public Service of New Hampshire (PSNH) rates will not be official until January 1, 2015, however the forecasted rate suggests a modest decline for the beginning of the year. PSNH raised its standard rate from $/0923 to $.0987 on July 1, 2014 to regain from last year’s winter.

Immediate action should be taken for those still on the fence for covering their open positions for this winter and have not budgeted for these increases.

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