Proposed winter rates would increase monthly electric bills by 24% - WPRI.com

Proposed winter rates would increase monthly electric bills by 24% | WPRI.com

PROVIDENCE, R.I. (WPRI) — Rhode Island residents should brace for an increase in their monthly electric bills this winter.

Rhode Island Energy submitted its proposed winter rates to the R.I. Public Utilities Commission on Tuesday.

The proposal suggests that the average Rhode Island resident would see their monthly electric bill jump by $32.29, which is an increase of more than 24%.

The proposed price hike is much less than last winter, when residents experienced a $52 increase in their monthly electric bills.

“As anticipated, this upcoming winter’s supply prices are on par with what we experienced last season,” Rhode Island Energy President Dave Bonenberger said. “We all saw in our own homes and businesses how these commodity prices can impact a bill, so it’s more important than ever that customers become familiar with ways they can reduce their energy use and know about the resources available to them to help manage energy costs in the coming months.”

The winter rate increases would only be temporary, according to Rhode Island Energy, and would likely be offset by lower usage. (Rhode Islanders typically use more energy during the summer while trying to cool down their homes, which results in lower electricity rates.)

Rhode Island Energy said residents can also expect to see a decrease in the customer charge — from $12 to $6 — on their monthly electric bills this winter.

The higher-than-usual winter electricity rates are due to “several ongoing market conditions that are impacting most sectors of the economy, including higher natural gas price and other global economic events,” according to Rhode Island Energy.

“Knowing these higher prices were coming, we’re grateful that Rhode Island’s elected officials had the foresight to pass legislation this year that will suspend the gross earnings tax on our customers’ bills from December through March,” Bonenberger added. “That will help decrease bills a bit, and we’ll continue to work with state leaders on other ways to help the most vulnerable.”

The state’s Public Utilities Commission will review the proposed winter rates before making a decision on whether or not to implement them.

If approved, the winter rates would be in effect from Oct. 1, 2023 to March 31, 2024.