Rhode Island regulators approve $28 million in winter electric bill credits
More than 450,000 Rhode Island Energy residential customers will get a $20.45 monthly credit in January, February and March 2027, funded by regional greenhouse gas auction money, Gov. Dan McKee's office said.
The Rhode Island Public Utilities Commission has approved $28 million in electric bill relief for residential customers, to be paid as credits in January, February and March 2027, Gov. Dan McKee's office said Thursday.
Under the plan, Rhode Island Energy residential customers will receive a $20.45 credit in each of those three months, or $61.35 per account, according to the governor's office. The credits apply to residential accounts on the company's A-16 and A-60 rates and will reach more than 450,000 customers statewide, the office said.
The money comes from reserves generated by auctions under the Regional Greenhouse Gas Initiative. McKee declared an energy affordability emergency on July 23, citing an expected double-digit increase in winter electricity supply rates, and directed the state Office of Energy Resources to use $28 million of those reserves for uniform residential bill credits. Existing projects and programs paid for with the initiative's money will continue, the governor's office said.
The credits are in addition to others arranged through the state Division of Public Utilities and Carriers. Starting in October, Rhode Island Energy electric customers will receive about $14 a month under a recently approved settlement tied to PPL's acquisition of Narragansett Electric, the governor's office said.
From January through March, the two credits combined will total about $34 a month for residential customers, or more than $100 over the three months, according to the office. Together, the two programs will provide nearly $200 million in bill relief, the office said.
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