National Grid Announces Electricity Rate Increase
After working with state regulators, National Grid has agreed on a three-year schedule that will increase the average residential customer’s monthly bill by 11 percent for customers in the northeast. For Massachusetts customers, the default rate already rose a whopping 34%, and will stay in effect until April of 2018.
While the arrangement spreads out the impact of the net increase over 3 years in New York, and the Massachusetts rate increase is deemed “temporary”, the net result is still more money out of pocket for utility customers who rely solely on the electric grid to supply their energy. The rate increase applies to the delivery portion of the electric bill, which is calculated based on the Kilowatt-hours of energy consumed (kWh).
What does this mean for you?
If you have a solar system, this news just means that you’re going to be avoiding an even higher bill. Because Net-Metering is a unit-for-unit trade of kWh produced, higher priced electricity prices mean that the output of your solar system is more valuable.
Want to protect yourself from increasing electricity rates? Making your own electricity is the easiest way, and getting a quote is fast and always 100% free.
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