Projo Biz Blog

The Public Utilities Commission, this afternoon, approved a request by National Grid to increase electricity rates by about 5.2 percent as of Jan. 1.

The utility company said the increase was needed to cover the projected increase in crude oil prices over the coming year.

The utility company purchases electricity for most of its customers, and its long-term contracts with electricity suppliers call for National Grid to pay more when the market price of oil or natural gas go up.

The typical customer will see an increase of $3.80 in their monthly bill, according to National Grid, bringing that bill to $76.66 a month, from its current $72.86 a month.

---