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Article: Massachusetts Electric Company Reports Increased Fuel Prices Affecting Company's Power Supply Costs; Company Files Request With Regulators to Increase Rates.
- Article from:
- Business Wire
- Article date:
- September 1, 2000
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Business Editors
NORTHBORO, Mass.--(BUSINESS WIRE)--Sept. 1, 2000
Massachusetts Electric Company today filed a rate increase with the Massachusetts Department of Telecommunications and Energy (DTE) to more accurately reflect the current costs of power it purchases for customers. Through the end of this month, the company estimates it will have incurred $50 million in increased power costs due to escalating oil and gas prices.
Massachusetts Electric is seeking an increase of 1.2 cents per kilowatthour (kWh) on the Standard Offer Rate portion of customers' electric bills, effective October 1, 2000. If approved, a typical residential customer ...