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BOSTON (WBZ NewsRadio) — National Grid's winter rate increases are now in effect across Massachusetts, and they are expected to be steep. National Grid said the average prices for monthly electricity will shoot up an average of 64% this winter compared to 2021-2022, or $114. Natural gas prices from the utility will also increase an average of 22% to 24%, or about $50.
The utility company explained the increases as a function of supply and demand, driving up the prices they charge to consumers. National Grid also said that "global conflict" — likely meaning the war in Ukraine, and inflation were sources of the price hike.
Similar to electric supply, National Grid said it "does not profit from gas supply costs; instead, customers pay what we pay for natural gas supply," meaning the prices customers pay are a reflection of actual demand.
National Grid supplies natural gas or electricity to a huge chunk of Massachusetts, including much of Cape Cod, Boston, most of the North Shore and the suburbs north of Boston.
The utility pointed people to resources like Mass Save and its own Winter Customer Savings Initiative to save money.
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