PROVIDENCE – The R.I. Public Utilities Commission approved National Grid Rhode Island’s reduced “summer” electricity rates, the company announced Wednesday.
The new base rate for residential customers will be 7.24 cents per kilowatt hour, a decline from the current rate of 9.57 cents per kilowatt hour. Last year’s summer rate was 8.3 cents per kilowatt hour. The switch from winter rates to summer rates will result in monthly bill decreases of roughly 10.1%, National Grid said.
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For commercial customers, which includes ‘small commercial and industrial’ customers, the rates are expected to go from the current rate of 8.15 cents per kilowatt hour to 5.67 cents per kilowatt hour. Commercial summer rates were 7.8 cents per kilowatt hour one year prior. The switch from winter to summer rates will result in monthly bill decreases in the the range of 9.7% to just over 12%, depending on a customer’s usage.
The summer rates will apply from April 1 through Sept. 30 for residential customers and for industrial customers will be effective from April 1 through June 30.
“We are pleased that our customers will be able to benefit from lower electricity supply rates this summer,” said Terry Sobolewski, president of National Grid Rhode Island. “However, we remain extremely sensitive to the economic challenges many of our customers are facing for the first time, due to the COVID-19 pandemic. Because of this, we have increased our efforts to educate customers about the many payment programs available to them since the start of the pandemic. We want to give our customers peace of mind by helping them immediately with the unique challenges they may be facing.”
The state’s electricity supply rates are adjusted twice a year at the discretion of the PUC.
