January 19, 2005
With bitter
temperatures tightening their grip on New England, NSTAR
is seeking to pass along to its natural gas customers a
price break of over 10 percent.
If approved, the reduced Cost of Gas Adjustment (CGA)
will save the average NSTAR residential heating customer
$21.00 per month. In a document filed today with the
Massachusetts Department of Telecommunications and
Energy (DTE), NSTAR Gas proposes to reduce its Cost of
Gas Adjustment to 85.00 cents per therm from the current
price of 99.68 cents per therm. The new price would be
effective February 1, 2005.
“With temperatures plummeting and world energy prices
soaring, we are pleased to announce this reduction for
our customers at a time when most can truly use the
break,” said Thomas J. May, NSTAR Chairman, CEO and
President. “NSTAR is committed to doing everything in
its power to keep costs down for customers, and this is
a clear example of that.”
If the proposed Cost of Gas Adjustment is approved by
the DTE, the average NSTAR Gas heating customer, using
144 therms of gas per month between November and April,
will pay approximately $182.00 per month, down from
$203.00. The CGA reflects the forecasted price of
natural gas, with no profit made by NSTAR on this
charge. The proposed reduction is due to
lower-than-expected prices and reflects continuing
volatility on the New York Mercantile Exchange (NYMEX).
NSTAR transmits and delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts, including over one million electric customers in 81 communities and nearly 300,000 gas customers in 51 communities.
