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nottoodrunk t1_ix1hklt wrote

Reply to comment by TheColonelRLD in Eversource seeks 43% rate hike for electric customers in Mass this winter by madnu

Yeah eversource has to clear every rate hike with the state. Conversation probably goes like this:

“These were the quotes we got last year from LNG providers. This is what we’re getting this year now that we have to compete with Europe for LNG. We have to raise prices by X to cover it.”

“Understood, approved.”

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zipykido t1_ix1mk2z wrote

National Grid increased their electric rates by 64%, they just pick a random number and someone in government approves it.

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Old_Travel8423 t1_ix8y0vg wrote

Natural gas prices are volatile now. From $5 last November up to $9 and then recently back down to $5.66. https://fred.stlouisfed.org/series/MHHNGSP

Anything being negotiated now is likely based on futures market prices required to lock in the cost of generating the power. I wonder if the recent drop in natural gas prices will impact regulators’ view on the price increase.

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giritrobbins t1_ix8jdh3 wrote

I'm pretty sure that information is available isn't it? The justification and everything else

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bakgwailo t1_ix23l9v wrote

Can thank Mittens for that one. I'm sure the deregulation and free energy market will save us!

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shuzkaakra t1_ix5t0vx wrote

>“Understood, approved.”

Oh it sounds like you need to raise it probably by even a bit extra, and maybe give my cousin bob a job in your freelance layabout department.

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