NSTAR (NST)

[MarketInsider]

NSTAR (NST) was created through the 1999 merger of BEC Energy and Commonwealth Energy System. November 19th the company increased its quarterly dividend 6.7% to $0.40/share. The payable February 1, 2010 to shareholders of record as of January 8, 2010. The ex-dividend date is January 6. The yield based on the new payout is 4.98%

News for NSTAR;

NSTAR Proposes 32 Percent Cut in Natural Gas Price
http://www.businesswire.com/news/home/20100826006148/en

BOSTON--(BUSINESS WIRE)--For the remainder of the summer and into the fall, NSTAR Gas customers can expect to pay a supply price that’s about 32 percent less than the current summer price. The company has submitted a new gas supply rate of just over 21 cents per therm, down from the current price of 31 cents. If approved by the Massachusetts Department of Public Utilities, the price cut will save the average NSTAR Gas customer nearly $4.00 a month beginning on September 1st.

“We’re encouraged by the continued low prices for natural gas as we head toward the fall,” said Tom May, NSTAR Chairman, President and CEO. “Any savings we can pass along to our customers now are helpful in these difficult economic times.”

Customers use natural gas for a variety of reasons in the summer months including cooking, hot water and clothes drying. If the proposed price cut is approved, the average NSTAR Gas heating/cooking customer using 38 therms of gas a month between May and October will pay $33.27 a month, down from $37.01. The average NSTAR Gas non-heating customer using 12 therms of gas a month will pay $17.25 a month, down from $18.43.

The supply rate, known as the Cost of Gas Adjustment, reflects the forecasted price of natural gas. NSTAR makes no profit on this charge. The proposed decrease reflects the continued fluctuation of fuel prices on the New York Mercantile Exchange (NYMEX).

NSTAR is the largest Massachusetts-based, investor-owned electric and gas utility. The company transmits and delivers electricity and natural gas to 1.4 million customers in Eastern and Central Massachusetts, including more than one million electric customers in 81 communities and 300,000 gas customers in 51 communities. For more information, visit www.nstar.com.