Utility rates take foot off the gas

Better late than not at all.

That’s how ratepayers probably feel after learning their natural-gas bills will decrease in the coming months.

The Department of Public Utilities has approved reductions in gas- supply rates for Eversource and National Grid gas customers.

That, combined with the start of meteorological spring on March 1, will ease some of the financial pain inflicted by using that heat source through the winter.

“We’re glad to see continued reductions in natural gas prices, and we will continue to seek out ways to deliver relief to our residents,” said Energy and Environmental Affairs Secretary Rebecca Tepper.

With these approved reductions, customers can expect to see a 10% decrease in a typical residential heating bill.

The new rates will remain in effect through the month of May.

According to Eversource, a reduction in rates happens when the supply cost of natural gas fluctuates by more than 5%. By law, that requires an adjustment to not over or under- charge customers

hat price flexibility doesn’t extend to electricity, which raised rates double the amount approved for natural gas back in November.

Back then, the DPU predicted that heating costs would surge by 54.6% for electric customers and 28.6% for natural gas.

As a result, residential electric bills have spiked by several hundred dollars.

Unfortunately, the DPU can’t control electric rates, which unlike natural gas, aren’t subject to current market conditions.

Electricity supply rates are established based on a competitive-bidding process, and remain fixed over the term of the contract, which runs for six months.

Leading up to this winter of discontent, state regulators asked utility companies to offer residential customers budget-billing programs, along with guiding cash- strapped individuals toward appropriate assistance programs.

“The Department continues to monitor energy supply markets to ensure that changes in supply costs are appropriately reflected in winter gas supply rates,” Department of Public Utilities Acting Chair Cecile Fraser stated.

“We continue to direct the utilities to work with the families and businesses across the Commonwealth to provide relief from high winter energy costs through energy efficiency and assistance programs.”

And it looks like that electricity-rate contract will run out just in time for a new pact covering the energysucking, air- conditioning season.

As long as regional restrictions on infrastructure that could ensure ample supplies of natural gas exist — the prime source fueling electricity-generating power plants — Massachusetts customers will end up paying the price for limiting that resource.