PowerFacts
ALL CLASSES OF NEW ENGLAND CUSTOMERS SEEING BENEFITS OF COMPETITION IN LOWER RATES
"The rate reductions we're seeing in New England continue to prove that robust, competitive markets, particularly the ones that have already emerged from their periods of transition or are in the process of doing so, are fulfilling the promise of cost savings to residential, commercial and industrial consumers." - John E. Shelk, President and CEO, EPSA
New Hampshire: Residential, Commercial and Industrial Customers
> Pending New Hampshire Public Utilities Commission approval: "Overall, a typical residential customer using 500 kWh per month will see a bill decrease from $84.72 to $76.23 or 10%. Small to medium size business customers will see bill decreases of about 6% to 10% depending on rate class and usage." (Unitil, Press Release, March 20, 2007)
Massachusetts: Residential Customers
> "National Grid has filed new, lower power supply rates with the Massachusetts Department of Telecommunications and Energy for its 1.2 million customers in Massachusetts who continue to receive their power supply from the company. If approved, the new rates would go into effect on May 1. Based on the proposed rates, a typical customer using 500 kWh per month would see a decrease of $7.28, from $86.73 to $79.45, or 8.4 percent on the monthly electricity bill." (National Grid, Press Release, March 22, 2007)
Massachusetts: Commercial & Industrial Customers
> "Some of the state's largest businesses will soon see a drop in their electricity bills as a result of NSTAR securing second-quarter power prices that are 20 percent lower than current rates. 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. Approximately 3,600 commercial and industrial customers in NSTAR's service territory will benefit from these price cuts." (NSTAR, Press Release, February 26, 2007)
Connecticut: Residential Customers
> "[T[he Department of Public Utility Control voted to approve some but not all of the bids from the most recent auction to provide wholesale power to The Connecticut Light & Power Company. The accepted bids reduce CL&P's energy costs by approximately 0.5 cents per kilowatt hour from the current level of 12.176 cents, or about 4%, which means a decrease of about 2.5% on the total bill. The Department expects to set new CL&P rates effective July 1, 2007. The accepted bids cover a portion of CL&P's power needs for 2007, 2008, and 2009." (Connecticut Department of Public Utility Control, Press Release, March 7, 2007)
Maine: Commercial and Industrial Customers
> "[T]he Maine Public Utilities Commission (PUC) accepted bids for new standard offer electricity prices for medium and large commercial and industrial customers of Central Maine Power Company (CMP) and Bangor Hydro-Electric Company (BHE). The prices, effective March 1, 2007, are for CMP Medium class customers 8.72 cents/kWh, a 13.1% decrease, and for CMP Large class customers 9.255 cents/kWh, an 8.8% decrease. For BHE, Medium class customers prices will decrease 13.4% to 8.827 cents/kWh, and Large class customers prices will increase 5.3% to 10.32 cents/kWh." (Maine Public Utilities Commission, Press Release, January 31, 2007)
> "'These lower prices should be good news for businesses facing large electricity demands,' stated Kurt Adams, Chairman of the PUC. 'We are pleased that prices are competitive and in line with market conditions.'" (Maine Public Utilities Commission, Press Release, January 31, 2007)
CONTACT: JOHN SHELK
(202) 349-0154or 703-472-8660
EPSA is the national trade association representing competitive power suppliers, including generators and marketers. These suppliers, who account for nearly 40 percent of the installed generating capacity in the United States, provide reliable and competitively priced electricity from environmentally responsible facilities serving global power markets. EPSA seeks to bring the benefits of competition to all power customers.