Danvers Electric Bills To Jump 10 Percent Starting In October

DANVERS, MA — Danvers Electric customers can expect a jump in bills of about 10 percent starting in October after the Municipal Light Board approved the increase that it said was necessary because of higher costs of purchasing and delivering electricity.

The rate increase of .016 cents per kilowatt-hour will take effect as of Oct. 6 and be reflected in October bills.

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Officials said the average residential electric bill, based on an average usage of 750 kWh per month, will increase by approximately 9.8 percent, which equates to a monthly cost increase of $11.95

"Each year, the regional cost of purchasing and delivering electricity to Danvers continues to rise," said Utility Director Clint Allen. "To keep up with these increasing expenses, we are adjusting the power supply portion of the bill.

"We're closely watching global factors that could affect wholesale energy prices heading into winter, ensuring Danvers Electric is in the best possible position to maintain stable and affordable rates."

Officials said Danvers Electric rates are set to cover power supply costs and not to generate excess revenue or profit.

Current regulations require Danvers Electric to return any excess fuel costs collected during the following year to
the customers.

This return of funds is included in the rate calculation each year.