Annually, the Devens Utility’s Department performs a cost of service rate study for the gas and electric utilities. This year’s study resulted in an increase of the electric rates by 8-10% depending on the rate class. This is a direct result of increased transmission and capacity system costs that continue to rise in the New England electric service territories. Additionally, energy cost increases are related to the extreme winter peak electric prices that the New England area has been experiencing for the past two winters. In fact this past winter resulted in steeply increased electric power costs that we chose to absorb and not pass on to our customers during an already tough winter due to the extreme cold wave that hit New England. You will notice that we did our best to decrease the overall impact of needed energy charge increases by lowering the distribution charges across all rate classes as much as possible and still meet financial goals and obligations of the electric utility.
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