September 17, 2007
NSTAR is delivering good news to its natural gas
customers for the upcoming heating season. The company
has submitted a winter rate of $0.9799 per therm, an 18
percent decrease from last year’s rate of $1.1949 per
therm. If the new price is approved by the Massachusetts
Department of Public Utilities, it would go into effect
on November 1st. The average NSTAR Gas heating customer
would notice a drop of $27 per month when compared to
last November’s price.
“The continued decline of natural gas prices on the
wholesale market couldn’t come at a better time,” said
Thomas J. May, NSTAR Chairman, President and CEO. “As
the temperatures start to drop here in Massachusetts,
and consumers begin to turn up their thermostats,
thankfully prices will be much lower than they were last
year.”
If the proposed price cut is approved, the average NSTAR
Gas heating customer, using 144 therms of gas per month
between November and April, will pay approximately $206
per month, down from $234 last November. Non-heating
customers using natural gas for cooking and hot water
will see a drop to $36 from $39 last year. The Cost of
Gas Adjustment reflects the forecasted price of natural
gas, with no profit made by NSTAR on this charge.
Once again, NSTAR will be offering the Fixed Price
Option for customers who choose to lock in their natural
gas rates for the entire season. NSTAR makes no profit
on this program but offers it to customers as an
additional option for those who want to maintain a
predictable price. Pending approval, the new supply
price for these customers from November to April would
be $0.9999 per therm. All qualifying NSTAR Gas customers
will be notified by mail when enrollment for this option
begins.
NSTAR is the largest Massachusetts-based, investor-owned
electric and gas utility. The company transmits and
delivers electricity and natural gas to 1.4 million
customers in Eastern and Central Massachusetts,
including more than one million electric customers in 81
communities and 300,000 gas customers in 51 communities.
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