UPDATE: Massachusetts Attorney General Andrea Joy Campbell has just announced a groundbreaking $45 million settlement with Eversource Energy aimed at providing immediate relief for ratepayers. This urgent decision will lead to significant reductions in electric and gas bills across the state, impacting thousands of Massachusetts residents.
The settlement resolves 16 docket matters, some dating back over a decade, addressing critical issues such as vegetation management and pension costs. According to AG Campbell, this initiative underscores her commitment to making energy more affordable for consumers. “Affordability and consumer protection are at the forefront of our work,” she stated.
NSTAR Electric customers will benefit from a $20 million rate credit, while Eversource Gas of Massachusetts customers can expect over $25 million in annual savings. These adjustments follow the acquisition of Columbia Gas of Massachusetts, which added complexity to the regulatory landscape.
Starting on January 1, 2026, the settlement will also implement customer credits stemming from discrepancies in NSTAR Electric’s Resiliency Tree Work (RTW) program. An additional $2.5 million will be distributed over 12 months to enhance grid reliability.
In addressing pension-related concerns, Eversource has committed to crediting consumers $17.5 million due to Pension Adjustment Factor issues, also to be spread over the same 12-month period. The complexities from the Columbia Gas transaction will yield $25.7 million in annual benefits for ratepayers over the next decade, a direct result of operational synergies negotiated by AG Campbell’s office.
Moreover, AG Campbell’s team has secured an impressive $32 million in savings for National Grid Electric ratepayers by successfully contesting additional funding for an electric vehicle program, further demonstrating her commitment to consumer advocacy.
As this settlement unfolds, Massachusetts residents can look forward to tangible financial relief in their energy bills. The implications of this agreement are vast and impactful, making it essential for all residents to stay informed about these developments.
Next steps will include monitoring the implementation of these credits and savings as they come into effect. This settlement not only represents a significant achievement for the Attorney General’s office but also reflects an ongoing effort to prioritize consumer protection and affordability in the energy sector.
Stay tuned for more updates on this developing situation as Massachusetts works to ensure fair energy rates for all its residents.
