Massachusetts Attorney General Martha Coakley told Hub business leaders today she plans to hold an energy summit this spring.
“Energy costs play a great role in businesses’ decisions to come and stay here,” Coakley said at a Greater Boston Chamber of Commerce breakfast. “I believe Massachusetts is fertile ground to address this challenge.”
Massachusetts has the fifth highest energy rates in the nation and the highest in the industrial sector, she said.
“Energy costs are a major challenge to your ability to grow and compete,” said Coakley, who reiterated that she’ll run for re-election as AG, but not for governor, next year. “My focus is on this work and what we need to do.”
A date has not been set for the summit, but its goal will be to develop and implement solutions to the state’s high energy costs, she said.
“We will need again, just as we did with health care, everyone at the table,” Coakley said.
The energy sector needs more competition and transparency, she said, and the state needs to support reliable, clean, cost-effective energy solutions.
“(Energy) is part of the very high cost of doing business in Massachusetts,” said Chamber CEO Paul Guzzi said. “It’s fundamental to the competitiveness of businesses.”
Coakley’s speech came as the region’s grid operator announced that wholesale electricity costs dropped by nearly 23 percent last year, thanks to falling natural gas prices and lower demand.
ISO New England said prices are now at their lowest levels since 2003 across the six-state region. Rates fell to $36.09 per megawatt-hour, from $46.23 in 2011.
Herald wire services contributed to this report.
