Rhode Island PUC approves more than $170 million in electricity bill credits
Credits stemming from PPL Corporation's 2022 purchase of Narragansett Electric will begin appearing on bills in October, the governor's office said. The commission declined to advance a separate proposal to cut the utility's profits.
Rhode Island's Public Utilities Commission approved more than $170 million in energy bill credits on Aug. 21, and the credits will begin appearing on customer bills in October and continue over the following 12 months, Gov. Dan McKee's office said.
The credits come from a settlement reached by the state Division of Public Utilities and Carriers, according to the governor's office. The office said the relief traces back to a condition of PPL Corporation's 2022 purchase of The Narragansett Electric Company, under which PPL agreed to shield Rhode Island customers from certain tax costs tied to the acquisition that would otherwise have raised rates. Rather than passing that benefit along gradually over decades, the office said, the commission's approval speeds up the savings and returns them to customers as bill credits.
The monthly credit amounts for residential, commercial and industrial customers were to be set by RI Energy by Aug. 25, the governor's office said.
The office said the credits are on top of $28 million in emergency energy assistance McKee directed in July, paid for with proceeds from the Regional Greenhouse Gas Initiative. That money is to provide bill credits to more than 450,000 residential electric customers during the peak winter months, averaging about $61 per customer, according to the office.
The commission also voted not to advance a separate administration proposal that would have reduced RI Energy's profits. McKee said his administration "will be back before the PUC to make the case again."
This brief was drafted by AI from a public agency press release and published by The New England Signal. Why we use AI for stories like this one.