NStar asks for one-third drop in natural gas rates for Massachusetts customers

BOSTON – Massachusetts NStar natural gas customers will likely see rates go down during September and October.

The company is seeking to reconcile estimates made earlier this year with reality.

When NStar set gas rates effective May 1, it predicted the price it would pay for gas during the following five months. NStar guessed high and now must refund the extra money to its customers.

The company does not make a profit on the gas, rather simply passes along the actual costs to customers.

Mass. Department of Public Utilities Executive Director Tim Shevlin said NStar needs to return about $4 million to its gas customers.

The company has asked to lower rates by about 32 percent over the summer prices, dropping the average residential customer’s bill by about $4 a month to $33.27 per month.