Yes, it’s true.
It seems rare that “low” and “energy costs” are in the same sentence, but according to a recent headline from Boston.com, the average monthly electric bill in Massachusetts has hit a six year low.
What’s going on? The main driver of declining costs is that natural gas prices are at historic lows because large deposits of natural gas have been discovered and retrieved with new methods. With so much natural gas flooding the market, prices drop.
In New England, about 50 percent of electricity is created by natural gas fueled power plants, so when natural gas prices drop, so do electricity prices. In 2006, natural gas prices peaked at about $10 per million cubic foot, and the average household monthly electric bill was about $150. Today, gas is at about $2-$3 per million cubic foot, and the average household monthly electric bill is about $112. That’s a drop of about 25 percent! This means, that in the last year, Massachusetts ratepayers – residential, commercial, industrial – have saved about $900 million dollars!
There is another reason that your electric bill may be lower – the state’s nation-leading energy efficiency programs. If you are one of the hundreds-of-thousands of residential or business customers that have taken advantage of rebates to do energy efficiency projects, you’ve probably seen significant savings on your bills. And even if you haven’t directly participated in energy efficiency programs, everyone’s bills may also be lower because, overall, less energy is being used than would have been without the energy efficiency programs and that depresses prices.
So now, with electricity prices so low, should the state keep investing in energy efficiency and renewable energy?
In my next blog post I’ll explain why the answer to that question is ….Yes!
Solarize Mass – Big Scale Impact for Small Scale Solar posted on Aug 20
The results of the Solarize Mass 2013-2014 two rounds managed to surpass numbers from the previous two years. Close to 1,500 contracts were signed and a total of nearly 10 megawatts of solar installed. During 2013’s first round, ten communities participated, and for the second round that ended this past June, another fifteen communities were chosen.
Carbon Neutral? A Closer Look at University Claims posted on Aug 14
The five UMass university campuses have made enormous progress towards carbon neutrality. In particular, UMass Amherst has demonstrated impressive environmental leadership and received an Energy and Environmental Affairs’ Leading by Example award for achieving a 26 percent reduction in greenhouse gas emissions three years ahead of its 2012 goal.
Door-to-Door Campaign Reaps Energy Efficiency Gains posted on Aug 1
Greenfield sent program specialists from Energy Smart Homes door-to-door to answer questions, explain the energy auditing process, and plan retrofit projects. So far, home energy assessments in Greenfield have taken place at four times the statewide rate.