Why are electricity prices rising?
Customers all across New England and the country are feeling the impacts of rising energy costs – regardless of how they heat their home. With electricity now purchased on the marketplace just like other commodities, factors such as the war in Iraq, threats of terrorism or demand, all impact the price. Here in the region, most of the electricity you need to power your life is generated by plants fueled by natural gas. As these fuel prices rise, it costs more to generate the electricity you use and thus, the cost of the commodity (electricity) costs more. While WMECO makes every effort to mitigate the impact to you, we do not control the cost of the commodity – only the cost to deliver it to you. Think of us as the UPS of the industry. We control the cost of delivering the package to you but not the cost of the package itself.
