NSTAR Electric and Gas and leadership of its largest labor union, Utility Workers Union of America AFL-CIO, Local 369, have reached agreement on a new three-year contract. The contract now awaits a ratification vote by union members on June 11 th and will take effect immediately upon approval.

“We greatly value our employees for the work they do everyday to deliver excellent service to our customers,” said Christine Carmody, Senior Vice President of Human Resources at Northeast Utilities, NSTAR’s parent company. “This three-year contract with UWUA Local 369 will provide good wages, excellent benefits, and a defined benefit retirement plan that will continue for our current employees. This agreement is also consistent with industry changes and provides an enhanced 401(k) plan for new hires.”

The new deal provides for important and necessary updates to company-sponsored benefits programs while continuing to provide a comprehensive total compensation package. Key provisions of the new agreement include:
  • Annual wage increases of 3 percent, 2.75 percent and 2.5 percent, respectively
  • A choice of three comprehensive medical, dental and vision plans
  • Enhanced 401(k) defined contribution plan for new hires
  • A new Roth IRA optional savings plan feature in the 401(k)
  • A commitment by the company to maintain its call center in Westwood, MA

“We are very pleased we were able to work together with the union leadership in a mutually respectful way to achieve a fair and balanced agreement,” added Carmody. “It creates stability for our employees and their families and recognizes the dedication and skill of our employees who provide safe and reliable service to customers everyday.”

UWUA Local 369 represents approximately 1,850 NSTAR employees working throughout the company’s service territory.

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. NSTAR is a Northeast Utilities company (NYSE: NU). For more information, visit www.nstar.com.

Copyright Business Wire 2010