New transmission line will lower electric bills in Massachusetts, Healey says. Here's how much you could save. [CBS News]
National Grid Transco, PLC National Grid PLC (NEW) American Depositary Shares (NGG)
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Source: CBS News
The New England Clean Energy Connect transmission line, which will bring hydroelectricity from Quebec to the region, is set to provide Massachusetts with about 20% of its overall electricity, the governor said. It will be finished by the end of 2025 after years of legal battles in Maine that delayed construction. "This transmission line will deliver affordable, stable power from our partners in Canada to our residents and businesses," Healey said in a statement. "More energy means lower costs." The governor says it will deliver $3 billion in benefits and savings overall, and part of that involves bringing utility bills down by $50 million per year. As a result, the average electric customer in Massachusetts will save between $18 to $20 per year over the term of the 20-year contract. That breaks down to savings of about $1.52 per month for Eversource and National Grid residential customers, and $1.63 a month for Unitil customers. High utility costs have been a contentious po
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