Massachusetts to Give $50 Power Bill Credits as Energy Costs Soar
Starting next month, Massachusetts residents will see $50 taken off their power bills. The state is giving back $125 million as costs reach all-time highs.
The credits will come from clean energy funds. This is part of a bigger plan expected to save $5.8 billion over five years through new initiatives and changes to rates.
Power bills jumped 30% since 2023, while gas prices climbed even more – up to 38%. “The utilities offered to spread the pain out over the course of the year. That is not good enough. And it’s why I have told the Department of Public Utilities to explore every avenue to reduce costs,” Governor Maura Healey told WCVB.
The state reduced Mass Save’s budget by $500 million, bringing it down to $4.5 billion. This money will instead go directly to helping customers with their bills.
“We need to address competitive energy suppliers that have overcharged residents outrageous sums. We’re launching a first-in-the-nation middle-income rate,” Energy Secretary Rebecca Tepper explained to WCVB.
New regulations will target price gouging by energy suppliers. The process to get rate discounts will become simpler for typical customers.
People with heat pumps will get more rate options soon. This change shows growing support for efficient home heating.
A new energy affordability bill looks to cut costs even more. Unlike older programs that only helped low-income homes, these new benefits will help middle-class families too.
These steps together should help control winter bills. Without these changes, worldwide price increases and supply chain issues would keep pushing local costs higher.
