February 18, 2009—Thanks to falling prices for fuels used to generate electricity, NSTAR is announcing lower supply rates for its largest electric customers. Commercial and industrial customers in the Boston area will see their second quarter power prices drop by 19 percent, says the company.
Under Massachusetts law, NSTAR buys electricity through a competitive bidding process on behalf of customers who receive their supply through the company’s Basic Service offering. More than a thousand commercial and industrial customers in NSTAR’s service territory will benefit from these price cuts.
The decreases can be largely attributed to a drop-off in prices for oil and natural gas, fuels used to generate electricity, says NSTAR. Medium and large commercial customers in the Boston area that are using more than 25,000 kilowatt-hours of electricity a month will see the price of power drop from 10.673 cents to 7.906 cents per kilowatt-hour.
If approved by the Massachusetts Department of Public Utilities, the new rates will go into effect on April 1, 2009.
NSTAR is the largest Massachusetts-based, investor-owned electric and gas utility. For more information, see the Web site.
