Some Massachusetts residents can expect to see lower electric bills this summer.
Eversource says they plan to file new adjusted electricity rates with the state Department of Public Utilities next month.
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Prices hit a historic high in New England last year, but natural gas prices are now on a downward trend.
“We’re pleased to be able to let our customers know that relief is coming following historically high supply prices over the past year,” Eversource Vice President of Energy Supply James Daly said in a statement.
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It's unclear what the exact cut in rates will be, but the new rates are set to take effect on July 1.
In each state of its service territory, the energy supply price for Eversource electric customers changes twice a year, representing the cost the company pays generators for the power its customers use. The timeline differs in accordance with each state’s specific laws and regulations. In Massachusetts, the basic service rate changes every Jan. 1 and July 1.
Eversource will file the July 1 rates for eastern and western Massachusetts separately in mid-May and the new rates will be announced at that time.
