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NorthWestern Energy signs new power contracts

By Associated Press
Published On: Jul 12 2013 08:03:32 AM MDT
HELENA, Mont. -

NorthWestern Energy customers in Montana should see lower electricity rates after several new power contracts negotiated at "substantially lower" costs take effect.
    
Vice President of Supply John Hines tells Lee Newspapers of Montana that the company was able to take advantage of low market prices when it signed the contracts several weeks ago.
    
He says customers will be seeing lower rates when the contracts take effect in mid-2014. But the company isn't revealing how much lower.
    
The new contracts replace expiring contracts with PPL Montana and are at rates "substantially below" the current rate of about $55 per megawatt hour.
    
The average NorthWestern residential customer consumes about nine megawatt hours of electricity a year and pays about $60 per mwh.