PROVIDENCE – National Grid Rhode Island natural gas customers will see savings compared to current rates starting Nov. 1, National Grid announced Monday.
The savings are due to an annual gas cost recovery charge adjustment approved by the R.I. Public Utilities Commission last week. The annual filing details costs from the last year and outlines charges deemed necessary for the company to recover projected gas costs for the next year. The charge adjustment will remain in effect from November through October 2020.
Experts testified to the PUC that the overall rate adjustment, which also included an increase in Distribution Adjustment Clause charges, will result in the average retail customer seeing an annual $147.58 in savings on gas charges.
Commercial and industrial customers are projected to save between 10% and 17.7% due to the rate change, depending on annual consumption.
The savings were, in part, related to a decline in the gas commodity costs, as well as a decline in the company’s supplier fixed costs.
“As the winter season approaches, we know our customers will be using more gas to heat their homes and businesses,” said Terry Sobolewski, president of National Grid Rhode Island, in a statement. “And while our customers need to prepare for that increased use, it’s encouraging to know their overall costs for the year ahead should be less significant than last year.”
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
