PROVIDENCE – The R.I. Public Utilities Commission yesterday approved a new Standard Offer rate for National Grid’s 478,000 Rhode Island customers.
The new rate, which takes effect Jan. 1, is 6.6 percent lower than the company’s current Standard Offer rate (the rate most customers pay). The typical residential customer, using 500 kilowatt hours of electricity each month, will see the monthly bill decline by $5.11, the company said, from $77.82 to $72.71.
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Also yesterday, the PUC approved the continuation of a delivery-rate discount for customers who qualify for the low-income rate, National Grid said.
This is the second reduction in Rhode Island electricity prices in the past four months, the company noted.
On Sept. 1, the rates for 2007 were lowered by 3.9 percent, reflecting recent reductions in the cost of the natural gas that used to generate electricity. National Grid purchases electricity on behalf of its customers and passes that cost through with no mark-up.
National Grid distributes electricity and natural gas to nearly 4 million customers in Massachusetts, New Hampshire, New York and Rhode Island.
