The plan sets how Rhode Island Energy buys power for customers on default supply, which feeds into the rates set in separate filings. The company estimates more summer spot buying would have saved about $5.6 million since 2016, while conceding spot power sometimes cost more.
Rhode Island Energy wants to change how it buys summer electricity for the households and businesses that never picked another supplier. More of that power would come from the regional wholesale spot market, and less from fixed-price contracts signed in advance.
The utility, whose legal name is The Narragansett Electric Company, filed its 2027 Last Resort Service Procurement Plan with the Public Utilities Commission on Friday. It asks regulators to approve the plan for three years, from Jan. 1, 2027 through Dec. 31, 2029, along with a revised tariff, RIPUC No. 2314, replacing No. 2236…