Northeast Utilities (NU) strongly follows energy innovation strategy, which enables it to provide low-emission green energy to its customers at a cheaper price. Currently, the company’s unit NSTAR has taken quite a few initiatives to further strengthen its energy offering portfolio with assistance from the Massachusetts leadership. NSTAR’s effort will help to strengthen its foothold further for promoting a cleaner environment in the region.
Per this new initiative, NSTAR will provide clean energy to its consumers and also save sufficient funds related to energy costs of NSTAR customers.
The Massachusetts authority has started implementing the Green Communities Act (“GCA”) in the locality and Northeast is an active member of this initiative.
Northeast regularly observes the performance of its operations for customer safety and reliability measures. To continue with its steady and smooth energy-supply effort, the company presented several programs under the GCA to its customers. During 2010 and 2011, utilization of these programs allows electricity and gas consumers to save nearly $1.2 billion and roughly $109 million through decline in energy consumption and other allied facilities.
In addition, Northeast always tries to provide uninterrupted utility services to its customers with much lower prices than its peers and continues to invest in the infrastructure development as well as research activities. A few days ago, NSTAR announced that it intends to build a 345,000 volt, 26 mile power transmission line spanning from Carver to West Barnstable and ending at Cape Cod in Southeastern Massachusetts. With the completion of this entire project, the customers will have increased availability of power.
Northeast is not only focusing on the infrastructure development activities, it is also trying to provide energy at a cheaper price. In September 18, 2012, NSTAR filed its new natural gas supply rate request to the Massachusetts Department of Public Utilities. If approved by the concerned authority, the consumers will be paying lowest natural gas price since 2002 and the revised rate will be applicable from November 1, 2012.
Hartford, Connecticut-based Northeast Utilities is a public utility holding company, which provides energy delivery services to residential, commercial and industrial customers in Connecticut, New Hampshire, as well as Massachusetts. The company engages in the purchase, delivery, and sale of electricity. The company’s closest peer is NiSource Inc. (NI). Northeast Utilities currently retains a Zacks #3 Rank (short-term Hold rating).
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