Governor Healey Calls on Transmission Utilities to Immediately Refund $1.5 Billion Owed to Customers

Governor Healey Calls on Transmission Utilities to Immediately Refund $1.5 Billion Owed to Customers

Demands immediate refunds and answers on when Massachusetts customers will receive their money

BOSTON – Governor Maura Healey today called on Eversource, National Grid, and Unitil to immediately return Massachusetts customers’ share of the estimated $1.5 billion in excessive profits owed to electric customers across New England. In a letter sent Tuesday, Governor Healey urged the utilities to stop delaying refunds and provide a clear timeline for getting money back to customers, rather than waiting until the federal deadline next May.

The refunds follow a March 2026 decision by the Federal Energy Regulatory Commission (FERC), which lowered the profits New England transmission utilities are allowed to earn on their investments after more than a decade of advocacy by the Attorney General’s Office under then-Attorney General Healey and Attorney General Andrea Joy Campbell. FERC ordered the utilities to refund customers for excessive profits paid by customers for more than a decade.

“Massachusetts families have been paying too much for too long, and they shouldn’t have to wait another winter to get their money back,” said Governor Maura Healey. “As Attorney General, I fought these excessive rates, and now federal regulators have ordered the utilities to pay customers back. I'm calling on these companies to stop the delays and return every cent owed to our residents. We’re going to keep standing up for customers and fighting to lower their energy bills.”

“As the state’s ratepayer advocate, my office works to protect Massachusetts residents from excessive utility costs, including utility profits. This office has fought for years to secure this ruling, and now it’s time for customers to get their money back. I support Governor Healey’s call for utilities to return this money without further delay,” said Attorney General Andrea Joy Campbell. 

“Customers have waited too long for this refund, they shouldn’t have to wait a day longer,” said Energy and Environmental Affairs Secretary Rebecca Tepper. “People are struggling. The transmission utilities need to get serious about the financial realities of their customers and give them their money back.”

In the letter, Governor Healey called on the utilities to work with ISO New England and other transmission owners to begin issuing refunds immediately. She also requested that Eversource, National Grid, and Unitil provide the following information by October 27, 2026: 

A clear accounting of the refunds owed to Massachusetts customers;

A schedule for when those refunds will be returned; and 

An explanation of how customers will receive their funds.

FERC initially ordered transmission owners to complete refunds within 30 days of its March 19, 2026 decision. After the utilities and ISO New England requested more time, the U.S. Court of Appeals for the D.C. Circuit denied the companies’ attempt to delay the refund. FERC ordered the refunds to be complete by no later than May 20, 2027, but customers should not have to wait any longer for money that must be returned to them. 

The utilities have also sought to increase their allowed profits going forward, filing a separate request with FERC to raise their base return on equity from 9.57 percent to 11.39 percent. Governor Healey and Attorney General Campbell have opposed that proposal, and Governor Healey joined the governors of all six New England states in calling on FERC to reject the increase.

Today's action builds on Governor Healey's ongoing work to lower energy costs for Massachusetts residents. Last week, Governor Healey declared a State of Energy Emergency and announced nearly $150 million in winter energy bill relief, including new heating assistance for middle-class families, increased benefits for low-income households and the removal of charges from electric bills. Governor Healey has also delivered hundreds of millions of dollars in direct energy bill relief, including cutting residential electric bills by 25 percent and gas bills by 10 percent for two months last winter; brought new sources of lower-cost energy online, including hydropower expected to lower bills by about $50 million each year; activated Vineyard Wind contracts projected to save customers $1.4 billion; opposed utility rate increases and unnecessary charges; and filed energy affordability legislation projected to save residents and businesses more than $13 billion. The administration will continue pursuing every available tool to lower energy costs and put money back in people's pockets.