Shrewsbury – Shrewsbury Electric and Cable Operations (SELCO) recently announced that it will not raise its electric rates for the period of Oct. 1 through March 31, 2016.
In the autumn of 2014, SELCO added a Generation and Transmission Adjustment (GTA) component to its rate structure. SELCO General Manager Michael Hale stated that the introduction of the GTA component was required to account for steep increases in power costs related to natural gas pipeline capacity constraints in the winter months. Natural gas is a major fuel used to generate electricity in New England.
“Power costs in the summer of 2015 were lower than anticipated, thus resulting in sufficient revenue available for the upcoming winter period,” Hale said. “As a result, SELCO will not need to increase the GTA rate this winter.”
Hale pointed to this decision as the most recent example of how SELCO customers continue to enjoy the benefits of Public Power.
For comparison, National Grid recently proposed increasing electric rates 21 percent for the period from Nov. 1, through April 30, 2016. This winter, a SELCO customer using 750 kWh (kilowatt hours) will pay $93.02 per month for power. Whereas a National Grid customer on the other side of Lake Quinsigamond will pay $164.25 for the same consumption based on National Grid’s proposed basic service rates.