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NRG Says That Its Massachusetts Residential Customers Saved $167 Million In 2023-24
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NRG Energy said that a new analysis shows that its Massachusetts residential retail electric customers collectively saved $167 million in 2023 and 2024.
NRG said that the study also found that, across the entire residential retail electric market, approximately 1.4 million residential retail supply customers saved over $600 million in 2023, the latest year industry-wide data is available.
Annual savings per customer averaged $435 for the year, NRG said
"Additionally, the study also shows that since 2018 the retail market has regularly generated savings for consumers who selected a competitive supplier. From 2018 through February of 2025, the competitive market offered retail plans cheaper than the utility in the Eversource (formerly NSTAR) service area 98% of the time. The average savings when a customer chose the lowest offer during this period was 24%," NRG said
The study was performed by Intelometry which analyzed data from the Energy Information Administration (EIA), residential customer data provided directly by NRG, and competitive residential electric offers posted by competitive suppliers on the Energy Switch Massachusetts website.
"EIA’s most recent published state level retail electricity data covers 2023 and shows that approximately 1.4 million residential customers saved money with a competitive supplier. Total savings for Massachusetts residential customers totaled over $600 million, with annual savings per customer averaging $435 for the year," NRG said
NRG said that its residential electric customers residing in Massachusetts saved a collective $115 million in 2023 and $52 million in 2024
"Finally, a historical comparison of competitive residential electric offers posted on Energy Switch Massachusetts to their corresponding Basic Service rate for the period of 2018 through February 2025 shows that the lowest posted residential offer beats the corresponding Basic Service rate 76% to 98% of the time depending on utility. Further, savings with the lowest offer averaged 16% to 24%, with the highest savings in a single Basic Service period measuring 45% to 64% depending on utility. That means that residential customers who opted for the lowest posted offer during the analysis period likely saved between 16% and 64% over the Basic Service rate for the prevailing period," NRG said
Link to full study
NRG released the study as the Massachusetts legislature continues to debate an end to individual residential retail electric choice, with this session's bills to accomplish such being H.3534 and S.2255
The legislature is also debating a retail market enhancement bill, H.3459, which would also include a $5 million bond requirement for retail suppliers
H.3459 would also, among other things:
• Require implementation of supplier consolidated billing for electricity (though language in the bill reference gas at times in relation to SCB, the most clear language only requires SCB availability for retail electric suppliers)
• Require accelerated (3-day) switching for electricity, regardless of AMI deployment (currently, accelerated switching is only required upon AMI deployment)
• Prohibit individual shopping by low-income electric customers, with such customers instead served through an aggregated retail electricity auction conducted by the DPU (not wholesale)
• Set the fee for a retail supplier or broker license application as at least $10,000
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Across All MA Retail Suppliers, Residential Savings Were $600 Million In 2023, Study Says
June 5, 2025
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Copyright 2025 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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