PROVIDENCE – Gov. Daniel J. McKee wants to spend more of the state’s gas cap-and-trade revenue to offset electricity bills for low-income residents.
McKee and the R.I. Office of Energy Resources on Thursday announced a proposal to use another $1.5 million of its Regional Greenhouse Gas Initiative funds on bill credits for eligible ratepayers. The proposal, which is part of a larger spending plan for the gas cap-and-trade revenue, still has to be approved by OER with input from the R.I. Department of Environmental Management after a 30-day public comment period.
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The latest spending adds to the $5.3 million the state has already carved out of its RGGI funds in electricity bill credits as part of a broader set of discounts and fee suspensions aimed at offsetting historic electric rate hikes that took effect Oct. 1. In addition to the $5.3 million in RGGI funds, which are reserved for low-income customers who qualify based on receiving federal assistance, the state set aside $32.5 million from its settlement with PPL Corp. (Rhode Island Energy’s parent company) in electric bill credits. R.I. Energy also suspended its $6 monthly customer charge – separate from the bill for usage – for six months, while McKee previously pledged to introduce legislation next year to suspend the state’s 4% tax on electricity bills through April.
Taken together, the $6.8 million in RGGI funds (incorporating the latest $1.5 million spending proposal) translates to a $190 savings on winter electric bills for the 39,000 eligible, low-income ratepayers, McKee’s office said in a statement.
The state also launched a new website as of October aimed at helping residents learn about available funding and other resources to reduce their energy bills. More information is available at EnergySupport.ri.gov
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.
