WALTHAM, MA - National Grid today announced the continuation of its successful Customer Savings Initiative into the 2023-2024 winter heating season. Launched in 2022, the Customer Savings Initiative connects customers with resources to reduce energy usage and save money, better manage bills, and secure available energy assistance.

Overall, monthly electric bills are expected to be 27 percent lower than a year ago, driven by winter electricity supply costs 46 percent lower than the 2022-23 winter heating season, due in large part to a more stable global energy market. Even with bills anticipated to be significantly lower this winter season than last, National Grid continues to encourage customers to take advantage of the programs that are part of the Customer Savings Initiative, including:

• Extensive residential and business energy efficiency programs and incentives
• Low-cost and no-cost bill management solutions 
• Flexible payment programs
• Payment assistance programs for income-eligible customers

The Customer Savings Initiative is also supported by $1 million provided to community partners that helps customers address food and financial insecurity, including multiple food banks and pantries, as well as our regional United Way partners and Good Neighbor Energy Fund. 

For more information about these resources, please visit ngrid.com/heretohelp.

"While energy supply prices will be lower this winter than last, we understand that energy costs can still be a challenge for customers," said Helen Burt, National Grid's Chief Customer Officer. "Our Customer Savings Initiative has made a real difference, and we remain committed to continuing and expanding our efforts to reach customers and provide them with products and services to manage their energy bill, control their energy costs, and secure assistance." 

Through the Customer Savings Initiative, National Grid has facilitated more than $43 million in HEAP funding to help Massachusetts customers supplement energy bills over the last 12 months. The Company has also hosted more than 25 Customer Energy Saving Events across Massachusetts, including four online webinars, and helped more than 25,000 customers sign up for Balanced/Budget Billing during that time. The Company has also enrolled more than 255,000 customers in National Grid's discount rate, with participating income-eligible electric customers receiving a 32 percent discount. 

At our in-person Customer Energy Savings events, National Grid representatives meet customers where they live, work, and conduct daily activities, providing individualized assistance to meet customers' unique circumstances. 

"We want to help customers every way we can and ensure they have the opportunity to manage their bills this winter, save money, and get the assistance they need, both from National Grid and others," added Burt. 

 Upcoming Customer Savings events are scheduled for the following dates:

• September 19 - McCann Technical School, 70 Hodges Cross Road, North Adams
• September 26 - Senior Center, 40 New Street, Marlborough
• October 10 - Palmer Public Library, 1445 N. Main Street, Palmer
• October 24 - Rose Baker Senior Center, 6 Manuel F. Lewis Street, Gloucester 
• November 1 - Rossetti Cowan Senior Center, 25 Winthrop Ave., Revere
• November 7 - Citizen Center, 10 Welcome St., Haverhill
• November 15 - Worcester Public Library, 3 Salem Square, Worcester
• November 30 - City Hall, 215 Pleasant St., Malden
• December 4 - Senior Center, 77 Lowell St., Methuen 

Visit ngrid.com/heretohelp for specific times. 

This year's winter rate change is lower than last year's due in part to stabilizing global energy markets as well as a recent Department of Public Utilities decision, which National Grid advocated for, and that reduces price volatility for customers while maintaining a secure and reliable supply of electricity for basic service.

National Grid buys energy on behalf of our customers from the wholesale market through a competitive and approved process and passes through those costs without any markup or profit, so customers pay what National Grid pays for that energy. 

Traditionally, National Grid moves from summer to winter rates every November 1, per our approved procurement schedule. Winter rates are normally higher than summer rates due to increased electricity prices driven partly by higher demand for natural gas in the winter.

Under the new schedule advocated by National Grid and the state's other electric distribution companies, which was recently approved by the DPU, National Grid will be shifting its Basic Service periods to August 1 through January 31, and February 1 through July 31. To enable that transition, our upcoming Basic Service period will be from November 1, 2023, to July 31, 2024. 

Residential Electric Forecast

Massachusetts residential electric customers who receive their electric supply, called Basic Service, from National Grid can expect lower bills year-over-year compared to last winter. 

Beginning November 1, based on a rate adjustment proposal filed today with the Massachusetts Department of Public Utilities, the monthly bill of a typical residential electric customer using 600 kWh will be approximately $213 for the 2023-2024 season, which is a 27 percent decrease from the 2022-2023 winter heating season, driven by decreased electric supply prices of approximately 46 percent.

Residential Natural Gas Forecast

As with electricity, National Grid will adjust its natural gas rates on November 1 to reflect seasonal differences in the cost of natural gas. Similar to electric, National Grid does not profit from gas supply costs; instead, customers pay what we pay for natural gas supply. The Company has pending proposals with the Department of Public Utilities relating to gas supply rates and delivery rates that would result in a monthly winter bill for an average Boston Gas residential heating customer using 111 therms per month of $263, an increase of $8, or 3 percent, compared to rates last winter. For an average residential heating customer in the former Colonial Gas service territory using 111 therms per month, the typical winter bill would be $245, an increase of $12, or 5 percent, compared to rates last winter.

About National Grid

National Grid (NYSE: NGG) is an electricity, natural gas, and clean energy delivery company serving more than 20 million people through our networks in New York and Massachusetts. National Grid is focused on building a smarter, stronger, cleaner energy future — transforming our networks with more reliable and resilient energy solutions to meet state climate goals and reduce greenhouse gas emissions.