In a recent letter from Gov. Donald L. Carcieri to the Federal Energy Regulatory Commission, the governor pointed out that current regulatory policies enable “certain energy suppliers to inappropriately collect windfall profits at the expense of Rhode Island consumers.”
Under the current system, the market price for energy is determined by the highest cost charged by any single producer. If the cost of producing energy from oil and natural gas goes up, but the cost of producing energy at a nuclear plant remains stable, the nuclear producer increases its rates to match the oil and natural gas producers, the governor said.
In addition, in Rhode Island, contracts between energy suppliers and local energy distributors often include fuel cost escalators that are tied to the price of gas and oil. The problem with this scenario is that half of Rhode Island’s energy comes from sources other than gas and oil.
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We agree with the governor that under the current system there are no incentives for the distribution companies to negotiate a better deal that more accurately reflects the true market price.
The Federal Energy Regulatory Commission needs to address these inequities that have arisen during this era of deregulation of the energy market. These inflated energy costs again add to the cost of living and the cost of doing business in New England.
Downtown parking just made easier
The Downtown Merchants Association has just made it easier to park in downtown Providence from now until New Year’s Day. A new parking program, called “$5 for 4 hours,” has been put together by more than 30 businesses in the downtown area.
The program is in effect after 10 a.m., seven days a week, at the Rhode Island Convention Center and City Parking Co. lots (by Holiday Inn and Canal Street), and from noon to 5 p.m. Monday through Friday at most MetroPark and Intown lots.
Other lots will be available on a more limited basis. A holiday parking map will be distributed throughout the downtown area.
To participate in the program, you’ll need to validate your ticket at one of the 30 participating businesses in order to get the discount. For more information, check out the Web site, www.providencedowntown.com.
The merchants association, headed by Josh Miller, explained that “downtown Providence has come a long way in recent years, but one of the last hurdles has been simplifying parking. This ‘$5 for 4 hours’ program allows people to come downtown to enjoy our stores, theaters and restaurants.”
