New Electric Rate Increase Effective January 2023
Following a months-long study, public discussions on the cost of delivering electric service to Belmont home, businesses, and municipal buildings, and a vote of approval by the Municipal Light Board, Belmont Light announced increases to it electric rate design that went into effect with the January 2023 billing cycle.
The new rate design allows Belmont Light to keep up with skyrocketing prices in the energy markets, sparked by a dramatic increase in natural gas costs, among a number of other factors while continuing to upgrade its electric delivery system and improve upon its reliability.
For the average Belmont Light residential customer using 500 kilowatt-hours per month, the new rate design will amount to an approximately $14.61 increase on their electric bill. Please read on for more details on the new rate design, what it means for you, and how we compare to neighboring towns on current and future electricity rates.
Bill Comparison Calculators
Residential Rate Calculator
Low Income Rate Calculator
Commercial Rate Calculator
Below are proposed rate changes across all customer classes. Please note that the “Avg. Customer” shows the usage of the average customer in that class. These are meant as an example only and do not reflect what your actual bill will necessarily be.
October 26 Public Forum on Rates
On Wednesday, October 26, Belmont Light and the Municipal Light Board held a public forum to discuss the need for a rate increase among other topics. Click the link below to view the recording.
HOW DO WE COMPARE TO NEIGHBORING TOWNS?
No utility is immune to the rising costs of natural gas, especially in New England, where natural gas makes up more than half of all resources on the grid. However, due to Belmont Light’s ability as a municipal light plant’s (MLP) ability to sign long-term power contracts and not-for-profit business model, Belmont Light customers will see a dramatically lower increase on their electricity bills compared to their neighbors in towns and cities served by investor-owned utilities (IOUs) like Eversource, National Grid, and Unitil. Here is an example of how each utility’s increase would affect a customer using an average amount (500 kWh) of electricity per month: