NSTAR Proposes Natural Gas Price 13 Percent Lower than Last Winter

NSTAR Proposes Natural Gas Price 13 Percent Lower than Last Winter

This heating season NSTAR Gas customers can expect to pay about 13 percent less for natural gas than they paid last year. The company has submitted a new gas supply rate of about 70 cents per therm, down from last winter’s price of just under 81 cents. If approved by the Massachusetts Department of Public Utilities, the NSTAR price cut will save the average gas-heating customer nearly $17.00 a month beginning November 1^st.

“With the trend continuing for lower prices, NSTAR customers will benefit again this winter by heating their homes with natural gas,” said Tom May, NSTAR Chairman, President and CEO. “Natural gas has always been a clean, reliable option for heating in New England and stable prices are making it the fuel of choice for a growing number of our customers.”

If the proposed price cut is approved, NSTAR Gas heating customers using an average of 131 therms of gas a month between November and May will pay $161.25 a month, down from $177.98 last winter. For most customers who heat with natural gas, this amount also includes cooking and water-heating.

The supply rate, known as the Cost of Gas Adjustment, reflects the price NSTAR pays for natural gas, with no profit made by the company on this charge. The proposed decrease reflects a continued decline in natural gas prices due in part to newly available domestic supplies.

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. For more information, visit www.nstar.com.

NSTAR
Caroline Allen, 617-424-2460
or
Michael Durand, 508-441-5831
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Evening and weekends, 617-541-7888