New England Electricity Overcharged | Boston News

New England homeowners are paying a shocking $12.3 billion over the past decade thanks to electricity suppliers charging way more than real-time costs—sometimes even more than the actual power itself. Utilities like Eversource and National Grid aren’t setting these prices; it’s the suppliers who bid fixed rates every six months, often locking in prices far above the spot market. For example, a supplier might charge 16 cents per kWh while the grid only costs 10 cents—those extra 6 cents? That’s the premium. Suppliers blame weather volatility and state renewable mandates, but Synapse Energy Economics proposes a smarter mix: buy some power ahead at fixed rates, then grab cheaper options on the spot market. But critics warn that relying on the spot market during winter could be risky when natural gas prices spike. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2d9ee0b8fee82ec1