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National Grid Proposes Cut In Natural Gas Rates

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Mar 19, 2009 8:42 pm US/Eastern

National Grid Proposes Cut In Natural Gas Rates

WALTHAM (AP) ―

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National Grid is the latest utility to announce a significant drop in natural gas rates for the summer season.

The company said Thursday that it has filed with state regulators for a rate of 51 cents per therm for the period of May through October. That would be 65.7 percent lower than last summer, saving the average customer nearly $50 per month.

National Grid is also proposing a 23 percent cut in summer electricity rates.

NStar and Unitil also announced earlier in the week that they were filing for reductions in summer natural gas rates of 70 percent and 56 percent, respectively.

The rates must be approved by the Massachusetts Department of Public Utilities.