BOSTON — The state of Massachusetts has negotiated an agreement with Bay State Gas Company, doing business as Columbia Gas, to reduce more than $11 million in proposed rates for customers and prevents the company from further rate increases during the next three years.
According to Massachusetts Attorney General Maura Healey, the settlement resolves a proceeding in which Columbia Gas would go before state regulators to increase its net distribution revenue by $24.7 million.
“It is my office’s job to help get the best possible result for Massachusetts residents and businesses,” Healey said in a statement. “Through this agreement we are saving customers millions of dollars on their gas bills. Our office will continue to push for fair and affordable rates.”
The agreement, which was signed by the Massachusetts Department of Energy and the Fuel Assistance Program Network, includes Columbia Gas contributing $125,000 annually toward incentivizing its residential customers to use wireless heating thermostats and other comparable technology to reduce gas usage and winter heating bills, the Attorney General's Office said.
The agreement, pending approval by the Department of Public Utilities, also includes a flow back of tax savings that Columbia Gas received as part of the federal corporate tax rate reduction, according to the Attorney General's Office.