Lowest 2024 Boston Electricity Rates
Energy choice participation is picking up in Boston as consumers are becoming more aware of legislation that allows them to shop for competitive electric rates. Participation has largely increased due to recent increases in the Eversource (formerly NSTAR) price to compare electricity price, which is the basic service rate for electricity charged to consumers who do not select an alternative supplier.
Massachusetts electricity choice allows Eversource customers, who can find a competitive electricity rate that is lower than the default rate, to save money on their monthly electric bill.
Lowest Electricity Companies in Boston
Competitive electricity companies have entered the Boston electric choice market in hopes of gaining market share by offering low electric rates and in some cases alternative green energy options. Many of these electricity companies have had success in nearby electricity choice markets such as Pennsylvania, New Jersey, New York, and Connecticut.
However, in the past they held off on soliciting new customers in Boston as the Eversource default rates were very low, making it difficult to offer competitive prices. Now that the default rates have risen, Boston electricity customers have an incentive to learn about and participate in the Massachusetts electricity choice program.
Energy Comparison Sites
Finding the lowest Boston electricity rates offered by competitive suppliers can be a lengthy process for first time shoppers. Electricity rate comparison sites make it easy for consumers to easily compare companies and rates side by side.
The comparison site electricrate.com is like the expedia.com for energy prices. The comparison platform provides customers with the lowest Boston electricity rates which often yield significant savings versus Eversource Basic Generations Service default rates.
Furthermore, in addition to price customers can also compare the Boston electricity rate plan’s:
- Term, or length of contract
- Early Termination Fee Amount
- Source of Electricity Generation including Renewable Energy
- Electricity Supplier Customer Service Ratings
- Amount of Savings versus the Eversource default rate
How to get a lower Eversource MA electric bill
The Eversource Energy electric bill is divided into two basic sections:
- Regulated Distribution Charges for delivering electricity
- Competitive Power Supply Charges for consuming electricity
Regulated Distribution Charges
The regulated distribution charges are set and monitored by the Massachusetts Department of Public Utilities. These charges account for about 20-30% of your electric bill for most residential customers, and it is how Eversource Energy earns a profit. There is not much you can do to lower this portion of the electric bill.
Competitive Power Supply Charge
The competitive power supply charge is where you can obtain a lower rate and thus lower your Eversource electric bill. This part of the bill accounts for around 70-80% of your costs for most residential customers.
Boston Basic Service Charge
Customers who do not shop for a lower Boston electricity rate are automatically placed on the Eversource Basic Service Rate. This rate is often higher than the lowest competitive Boston electric rates available in the market.
In order to get a lower Eversource electric bill in Boston, you simply have to select a low electric rate plan from a Boston electricity supplier who is offering a price below the basic service default rate.
Below are some of the current lowest Boston electricity rates. Savings versus the Basic Service rate are displayed. Rates are updated in real time.
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