Westfield Gas & Electric (WG+E) has announced new rates with an 80% reduction to the natural gas supply charge starting in May 2023. The supply charge has been reduced from $1.85 to 25¢ per Ccf. Residential customers can expect to see, on average, a decrease of $200 compared to April (-80%) and a decrease of $38 from their May 2022 bill (-43%). Actual bills will vary based on individual energy usage.
The rate reduction is part of WG+E’s commitment to providing affordable and reliable energy services to the community. The energy supply team continues to meet each day to discuss and analyze the markets. Rates were stable throughout the winter to protect against the impacts of unforeseen weather events, like the extreme (and expensive) cold snaps in February. Winter is the most volatile period for gas prices and energy usage for heating. By keeping rates stable through those unpredictable months, residential customers will now see their summer bills drop to nearly half the cost of the state average.
“As a locally owned utility, we work hard to keep our rates low for customers,” commented Tom Flaherty, General Manager. “The energy supply team is dedicated to and skilled at managing the extreme volatility of the natural gas market in the best interests of our community.”
Although wholesale pricing has come down from the record highs seen in 2022, the cost of energy remains elevated compared to pre-2022 levels. This pricing continues to be influenced by many factors, including weather and geopolitical events. While this rate change offers some reprieve, we do expect to see higher prices affecting natural gas and electric rates through the rest of 2023 and into 2024.
While the WG+E team works to stabilize rates, there are steps that customers can take to reduce the impact of higher costs in their wallet. The warmer weather is a great time to take advantage of energy efficiency benefits and rebates offered by WG+E at wgeld.org under Residential > Ways to Save.
- Energy efficient water heaters, heat pumps, appliances, and pool pumps can all reduce your overall use and bills.
- Schedule a FREE home energy audit at 1-844-403-7960 for custom tips for saving at your home.
- Even the little things count—turn off lights and TVs when you leave the room.
- Install programmable thermostats and set them to a moderate temperature.
- Insulate doors and windows while you’re working on home improvements this spring.
Finally, a reminder that during challenging times, scammers and other bad actors often see opportunity. They become savvier each day and the caller ID may even indicate “Westfield Gas + Electric” even when it is not. Remember that WG+E representatives will never call and ask for your personal information or demand payment over the phone or by gift card to avoid shut off. If you are ever in doubt, hang up and call WG+E at 413-572-0100.