Electricity Rates Expected To Drop For Rhode Island Energy Customers

RHODE ISLAND — Rhode Islanders may soon see some relief in their electric bills.

On Thursday, Rhode Island Energy announced electric supply prices are expected to drop significantly this spring. A Rhode Island Energy spokesperson said the rate drop is based on a new rate proposal before the Rhode Island Public Utilities.

If approved, the supply price decrease applies to Rhode Island Energy customers on the company’s default supply rate, also known as its Last Resort Service price. Under the plan, a typical residential customer using 500 kilowatt-hours per month could see a price drop of more than 40 percent on the supply portion of their bill. According to the company, that is a bill decrease of about $35 per month for the average customer.

"The cost of many goods and services continue to rise and impact the daily lives of Rhode Islanders, and we work very hard to secure affordable supply for our customers," Rhode Island Energy President Greg Cornett said. "After the second straight winter where New England saw some of the highest supply rates ever recorded, passing on these lower prices to our customers is critical and should provide them some much-needed relief."

Small- to mid-size commercial customers could see up to a 42 percent decrease in the supply portion of their bill. The newly proposed rates would be in effect from April 1 through Sept. 30.

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