RI PUC Approves National Grid Electric Supply Rate Increase of 11.9 Percent

RI PUC Approves National Grid Electric Supply Rate Increase of 11.9 Percent

The Rhode Island Public Utilities Commission (PUC) has approved a change in the rate National Grid charges Rhode Island customers for electricity. 

The PUC  has approved rates for the company's residential and smaller business customers that are lower then what the company had originally requested back in November. 

For customers using 500 kWH of electricity per month, the impact of this lower rate increase amounts to a net bill increase of $10.53 per month

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Newly approved rates represent a net increase of 11.9 percent, compared to the 14.1 percent in January 2014.

The new rates will take effect on January 1, 2015  spread the increast in costs that the company expects to take on, on behalf of its customers, over a 12 month period. Previously, the costs were spread over a six-month period.