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September 18, 2012

Amid glut, NU’s Mass. gas unit seeks price rollback

Northeast Utilities’ NStar Gas unit wants to shave $180 a year off the average Massachusetts customers’ gas bill, giving them the lowest gas rates in a decade.

Reflecting the domestic natural gas glut that is driving prices down nationally, NSTAR Gas said it has asked Massachusetts utility regulators for permission to cut its gas supply rate 18 percent to 57.32 cents per therm from about 70 cents in the year-ago heating season.

If approved, the new rate would begin Nov. 1 and save the average heating customer more than $15 a month compared to last year.

NStar Gas heating customers using an average of 131 therms of gas a month between November and May will pay $145.60 a month, down from $161.25 one year ago. For most customers who heat with natural gas, this amount also includes cooking and water-heating.

The supply rate, known as the cost of gas Adjustment, reflects the price NSTAR pays for natural gas, with no profit made by the company on this charge.

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