McKee Testifies Before PUC, Calls for Action to Limit Impact of RI Energy’s Proposed 47% Rate Hike

McKee Testifies Before PUC, Calls for Action to Limit Impact of RI Energy’s Proposed 47% Rate Hike

Governor Dan McKee on Friday urged the Rhode Island Public Utilities Commission (PUC) to take action to minimize the impact of RI Energy’s proposed rate increases. On electric rates, RI energy is asking for approval to raise the residential rate by 47%. And separately, RI energy has requested a 15% increase on residential natural gas.

McKee called for three actions to minimize the impact:

In terms of today’s docket – I’ve requested that the PUC consider the following 3 actions to minimize the impact of these rate increases: 

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First: Distribute $32.5 million in electric ratepayer bill credits from the State's settlement with PPL back to all ratepayers over the time when electric rates will be elevated. 

Second: Suspend the customer charge on residential electric bills until next summer when electricity prices are projected to decline significantly. 

And third: Moderate the impact on all ratepayers by spreading the higher rates over 12 months. 

As our Administration continues to address this issue – I ask the PUC to consider taking these three specific actions to deliver much-needed relief to all Rhode Islanders

 

McKee said he has already taken specific actions.

“And we’ve already begun to take action. In addition to the $275 million in broader tax relief that was included in my most recent budget – in August, I announced that my Administration would direct $3.8 million to provide direct rate relief to low-income customers this winter.”

McKee said, “This will reduce an eligible customer’s utility bill by about $14-17 a month for six months. And we estimate that it will provide support to about 39,000 Rhode Islanders.  We’re also working to ensure that we are maximizing and reacting to energy costs with our state LIHEAP Enhancement Funds. People who are eligible for the Heating Assistance Program can expect to receive $450 from the LIHEAP Enhancement Fund to assist with their electric or gas heating bills. Households that heat with oil and are eligible for the Heating Assistance Program can expect to receive up to $1,285, depending on their income level." 

But for homeowners who do not meet the eligibility requirements for the program energy costs will be rocketing.