The Commission voted to approve a reduction in electric rates at its meeting on Tuesday, May 11, and Commissioners and staff are currently evaluating scenarios that would allow for a rate reduction of approximately 5 percent, depending on the individual user, beginning with July electric bills.
Ratepayers will see the decrease through a reduction in the Purchase Power Adjustment charge on their bills.
“We are always excited to provide Merrimac residents and business with good news, and thanks to our long-term plan, financial stability and responsible power production purchases, we can do so,” Hamel said. “Given all of the stress associated with the pandemic, the timing of this decrease couldn’t be better.”
The Commission also voted to monitor the financial position of the Light Department over the course of 2021 to determine whether a second 5% rate decrease is feasible in January 2022.
“We hope that as we progress through 2021, our well-maintained infrastructure and financial strength give us the chance to lower rates again in early 2022,” Hamel said.