Next 4 years of electricity costs looking bleak
New England electricity customers, already facing the highest rates in the nation, are in store for some real sticker shock over the next four years, as the price paid to power plant owners just for promising to stay online goes through the roof.
The collective cost to ratepayers of securing this “future capacity” has been around $1 billion a year since 2010. That cost holds through 2016. But when 2017 rolls around, it shoots up to $3 billion and in 2018 will hit $4 billion.