Governor announces Energy Affordability Act to save Massachusetts residents $10 billion

Governor Maura Healey announced significant new energy affordability legislation during a recent meeting, aiming to reduce energy costs for Massachusetts residents. The proposed Energy Affordability, Independence, and Innovation Act is expected to save consumers over $10 billion over time, with an estimated $100 million in savings in the first year alone.

This initiative builds on the state's earlier commitment to an energy affordability agenda, which is projected to save $6 billion over the next five years. Healey emphasized the importance of lowering gas, heating, and electric bills for residents, highlighting recent measures such as a 10% rate reduction and a $50 rebate that collectively provided approximately $225 million in direct savings.

Key components of the new legislation include the removal of unnecessary charges from utility bills and the expansion of a discount program for moderate-income households, which will now include gas customers alongside electric customers. The governor noted that increasing energy supply in Massachusetts is crucial for driving down prices, stating, "More supply means lower prices."

Healey expressed gratitude to her team and various stakeholders for their contributions to the legislation, underscoring the need for accountability in utility spending to ensure that ratepayer dollars are used effectively. She also mentioned ongoing efforts to modernize the state's energy infrastructure, which is essential for meeting future energy demands.

As the state moves forward with this legislation, Healey's administration aims to create a more equitable energy landscape for all residents, particularly those in low and moderate-income brackets. The governor's proactive approach signals a commitment to addressing long-standing energy cost issues and enhancing the overall resilience of Massachusetts' energy system.