Middleborough Gas and Electric Department [MGED] has decreased the Purchase Power Adjustment (PPA) to 1.5¢ as capacity costs return to lower levels in the New England power supply market. This ½ cent decrease represents a 3% cut in the average monthly residential bill. Customers using 750 kilowatt hours will see bills decrease to $108.50 per month. This represents an annual cost savings of $45.
The PPA is a direct flow-through of actual power supply costs combined with forecast power supply costs. “Transmission costs continue to increase at a steady pace. However, capacity costs have decreased as the higher levels in place for the last two years have ended, allowing us to pass the savings directly to our customers,” said General Manager Jackie Crowley. “This adjustment represents $3.75 per month for the typical residential customer but it has a much more substantial benefit for large users like Ocean Spray and the towns of Middleborough and Lakeville.”
Most recent rate comparisons to investor-owned utilities such as Eversource and National Grid continue to show that the MGED bills are about 30% lower than the most recent typical bills under basic service rates for these utilities.
As a municipally-owned utility, MGED is not-for-profit and works to keep all electric and natural gas charges steady and as low as possible. MGED serves over 15,000 electric customers in Middleborough and Lakeville and over 5,000 natural gas customers in Middleborough.