NSTAR customers in Needham could save more than $15 per month on their heating bills this winter if the company's proposed supply rate is approved by the state.
NSTAR Gas has submitted to the Massachusetts Department of Public Utilities a supply rate of 57.32 cents per therm, a drop by 18 percent from the 2011-12 price of about 70 cents, according to a press release from NSTAR provided by company spokesman Mike Durand. If the state approves the rate, it would take effect on Nov. 1.
“As we head into another heating season with low prices, it’s no wonder we’re seeing record numbers of customers converting their heating systems to clean, efficient natural gas,” NSTAR Gas President Rod Powell said in the press release. “In today’s economy, with the price of other fuels hovering near all-time highs, our customers will once again be glad they chose natural gas to keep their families warm this winter.”
If the state approves the proposal, NSTAR Gas customers in Needham who use an average of 131 therms per month between November and May will see monthly natural gas bills of $145.60—as opposed to $161.25 in 2011-12. For most customers, this amount includes the cost of cooking and water-heating, according to the press release.
"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 press release states. "The proposed decrease reflects a continued decline in natural gas prices due in part to abundant domestic supplies."
NSTAR supplies both natural gas and electricity to Needham customers.