$50 bill credits included in Mass. Gov. Healey's plan to reduce energy bills
The Healey administration hopes to save Massachusetts ratepayers billions of dollars in costs over the next five years by redirecting some clean energy-related charges that drive up utility bills, expanding discount programs, and stabilizing the local energy supply.
WATCH: Mass. Gov. Healey announces plan to lower energy bills, prevent future price hikes
Much of the savings is long-term, but immediate relief is planned in the form of $50 credits on April electric bills for residential customers of Eversource, National Grid and Unitil, Gov. Maura Healey announced Monday.
To pay for that one-time relief, the state will redirect about $125 million collected from Alternative Compliance Payments (ACP), which retail electricity suppliers can pay to help fulfill their requirements to use a certain amount of renewable or alternative energy sources. ACP funds normally promote clean energy projects or technology that reduces demand.
The redirection of clean energy funds for electric bill relief builds on a previous move to reduce March and April natural gas bills by about 10 percent.
Healey's plan also calls for the Department of Public Utilities to examine new 'potential regulations' on competitive electric suppliers. Watchdogs -- including Healey herself when she was attorney general -- have accused those third-party companies of predatory tactics, but industry leaders argue they can help customers save money and legislative efforts to prohibit them from selling power to residents stalled in the House.
Altogether, Healey's office estimated the constellation of actions, including elimination of the Solar Renewable Energy Certificate I and II program, expanded auto-enrollment in discount rates, and the arrival of power from the New England Clean Energy Connect program could save about $5.8 billion over a five-year span.
Healey said she also plans to file an 'energy affordability and independence bill' at some point in the coming weeks, echoing a pledge she first made to business leaders two weeks ago.
The governor held the energy costs press conference at Community Teamworks in Lowell.
This is a developing story. Check back for updates as more information becomes available.
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