NEWS: Electricity suppliers overcharged Massachusetts residential and small-business customers by $12.3B over the past decade, a recent report claims.

For context: Utilities like Eversource and National Grid don't generate power—they buy it from independent suppliers at a fixed rate locked in every six months, then pass it through to customers. 

The finding: Research firm Synapse compared those fixed rates to real-time spot prices and found that Massachusetts basic-service customers paid a median 43% markup, or roughly $22 in extra costs per month. This added up to >$12B in premiums paid from 2015-2024.

The utility response: NRG claimed that the state's renewable mandates have contributed to cost spikes, while Eversource argued that suppliers must price in the risks of fixed rates and regional gas volatility.

The fix (and its risk): Synapse proposed a hybrid model—fixed-price contracts for part of predicted load, spot-market purchases for the rest. Eversource's counter? Spot markets cut both ways, and a bad winter could make today’s bills look cheap.