HYANNIS – Massachusetts residents will see lower gas bills in the coming months.
The state’s Department of Public Utilities (DPU) approved a reduction in gas supply rates yesterday. The drop will lead to a 4 to 5% decrease in monthly bills.
Customers in the region who are served by National Grid and Eversource can look for a slightly lower bill soon. The adjusted rate will be seen on statements received in March.
WBUR reports National Grid estimated customers will see a saving of about $11 per month.
The lower rate is based off changes to the market price of natural gas over the winter.
The DPU requires that gas distribution companies update their rates when they will “materially over- or under-collect costs from customers.”
Fuel prices soared last year after Russia’s invasion of Ukraine. The state forecasted the cost of heating to rise 28% this winter for homes that use natural gas.
They also expected a 63% hike for heating oil bills, a 10% jump for propane, as well as 57% for electric heating.
Several other utility companies in Massachusetts will also introduce the lower rate, however National Grid and Eversource are the only two that service the region.
By Brian Engles, CapeCod.com NewsCenter
About Brian Engles
