What to Expect in Your 2024 Monthly Electric Bill

There are two primary factors that make up your bill: 1) customer electricity usage and 2) rates.

1. Customer electricity usage (kWh) is influenced by weather and is typically higher in winter and summer months (due to heating and cooling needs) and lower in spring and fall months.
    
2. Within rates ($/kWh), there are two distinct components:
   1. RMLD annual operating costs – these charges are established annually based on the RMLD operating budget. RMLD's operating budget increased by 16 percent in 2023 compared to 2022 due to infrastructure improvements to support decarbonization in accordance with Massachusetts climate legislation
   2. Monthly power supply costs – these charges are budgeted annually but adjusted monthly for actual costs, which are passed through without any markup. Power supply costs have been volatile, and the current price forecasts indicate a 2 percent increase for 2023 compared to actual 2022 power supply costs. Within power supply costs are transmission costs that includes maintenance on distribution network systems to ensure reliability and upgrades to handle higher electricity loads. Transmission costs have increased by 17 percent.

RMLD manages its operating costs and power supply costs to provide safe and reliable service, at lower costs to ratepayers when compared to larger for-profit utilities such as National Grid and Eversource.

Click on the links in the text above for more details.

Click here for example bills and additional discussion.  

The new Renewable Choice rate is available to Residential customers as of February 1, 2022, and will be available to Commercial and Industrial customers this spring.