Mass Regulators Okay Electricity Rate Hike for 4 Utilitiesgreenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread
Regulators Okay Electricity Rate Hike for 4 Utilities
LCG, Dec. 5, 2000--The Massachusetts Department of Telecommunications and Energy unanimously voted yesterday to allow increases of between 4 percent and 12 percent in the electric rates charged by three state utilities, despite the 1998 electric restructuring law that mandated a 15 percent rate cut.
Yesterday's decision affects customers of Massachusetts Electric Co., Fitchburg Gas & Electric Co. and Nstar Corp., the holding company for Boston Edison Co. and Cambridge Electric Light Co.
The amount of the increases for the companies depend on filings they will make later this week but are expected to be as high or higher than rate increase requests made in earlier filings.
Bob McLaren, a senior vice president of Mass Electric, said he expects the final rate effective on January 1 "may not be all that far off from what we'd asked for." The utility sought to raise the cost-of-power component of bills from 3.8 cents to just under 5 cents, which would translate to about a 12.3 percent total bill increase for typical householders.
Other increases sought for the standard-offer cost would raise generation rates at Boston Edison from 4.5 to 5.08 cents per kilowatt hour, Cambridge Electric from 3.8 to 4.45 cents, and Fitchburg from 3.8 to 5.112 cents.
-- Martin Thompson (firstname.lastname@example.org), December 06, 2000