National Grid withdraws proposal to hike R.I. gas rates

NATIONAL GRID RHODE ISLAND has withdrawn its Interim Gas Cost Recovery filing, which sought to raise gas prices for the next 10 months in anticipation of budget shortfalls. / PBN FILE PHOTO/ MARK S. MURPHY
PROVIDENCE – Changing market forecasts and a calculation mistake will spare National Grid Rhode Island customers from at least some of the proposed increases in their gas bills this year. In a Jan. 14 letter to state energy regulators, announced with an open meeting notice on Thursday, National Grid said it was withdrawing its Interim…

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  1. Energy Efficiency Plan investments must, by law, be less than the cost of procuring the additional energy supply that otherwise would be required. So, energy efficiency investments should not be described as adding costs to utility bills, but rather avoiding other higher costs that would otherwise be incurred. As noted below, the plan as filed would save ratepayers $80 million over the life of the investments.

    For instance, as this year’s EE plan states: “Based on the Company’s calculation, the total cost of energy efficiency for the electric portfolio is $143.2 million and the total cost of electric supply to meet the same need would be $205.3million. This is a total savings of $62.1 million over the life of the installed energy efficiency measures from investing in
    energy efficiency instead of electric supply. The total cost of energy efficiency for the natural gas portfolio is $45.3million and the total cost of natural gas supply to meet the same need would be $64.2 million. This is a total savings of $18.9 million over the life of the installed energy efficiency measures from investing in energy efficiency instead of natural gas supply”