National Grid, a British company, and Eversource are the two main suppliers of electricity for the State of Massachusetts. Both companies have notified the Department of Public Utilities (DPU) that rates for electricity are about to skyrocket to unprecedented levels.
Massachusetts customers of these two companies will experience sticker shock over their electricity bills soon. Some may begin to use candles to light their homes this winter just as people in Europe are doing. This may be necessary to offset the massive increases in electricity rates coming.
National Grid has announced a 64% increase in rates effective November 1st. Eversource will go up 38% on the same date with additional increases expected January 1st.
Massachusetts – […] National Grid said the monthly bill of a typical residential customer using 600 kilowatt-hours of electricity will increase from $179 last winter to about $293 this winter, an increase of about 64%. National Grid said the delivery portion of electric bills will basically remain flat.
“National Grid buys electricity on behalf of its customers from the wholesale power market through a regulatory approved process established 20 years ago. That process has served customers well over the years and provides flexibility for unforeseen events, like limited supplier response to solicitations. But things have fundamentally changed,” Helen Burt, the company’s chief customer officer, said in a statement. “Today, under a sustained, high market price environment, it is challenging to maintain affordable prices. Given that, we think it’s a good time to work with our regulators and other stakeholders to review the process and electricity supply dynamics in the region, with an eye toward reducing price volatility and maintaining a secure, reliable and resilient energy system for the future.”
A note: The MONTHLY increase in electricity costs is expected to be more than $100. How many people will have to run an unpaid balance on their credit cards to keep the lights on? With an ongoing recession that is expected to get worse long before it gets better, what are the downstream effects of this going to be?
All of this is fueled by the surging prices of natural gas. Thanks to Joe Biden’s energy policies, which includes the massive export of natural gas in LNG form, domestic prices for natural gas have skyrocketed and will continue increasing as production is further shut down by regulation.
Massachusetts may be the canary in the coal mine. How many more areas of the country will be hit with increases of this sort?
In New Hampshire, Eversource had previously announced that electric rates would be doubling for many residents due to higher natural gas prices.
It will be interesting to hear how Massachusetts liberals will rationalize Biden’s stupidity and incompetence regarding US energy policies while they are freezing at sub-zero temperatures this winter. How many fireplaces will be in use in Massachusetts this winter? How many wood-burning stoves? How much will it cost to charge an electric vehicle?
What effect will this have on the inflation rate? How many companies in Massachusetts will go belly up or will decide to leave the state? This kind of increase in energy costs will have a significant impact on the survivability rate for small businesses.
Why is the rate increase scheduled for November 1st? Is it so that the first “sticker shock” bill does not show up until after the elections in November?
The Democrats, led by Chuck Schumer, Nancy Pelosi and Jim Clyburn, are destroying the economy. A depression is on the horizon. This is another step closer to that reality.