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The Boston Globe

Business

Natural gas price surge won’t push up utility rates

Massachusetts consumers are unlikely to see their utility bills rise — at least in the short term — as a result of the recent frigid weather that pushed up demand for heat and electricity and sent wholesale natural gas prices surging last week.

Natural gas prices not only affect heating bills, but also electric rates because the fuel is used to produce about 70 percent of the state’s electricity, according to the US Department of Energy.

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