PROVIDENCE, R.I. (WPRI) — Rhode Island regulators on Thursday approved an electricity rate hike that is expected to raise customers’ bills 23% on average this winter compared with current rates, although there will be some financial relief provided.
The R.I. Public Utilities Commission approved the rate hike, proposed earlier this year by Rhode Island Energy, the state’s main utility. As a result, the residential electricity rate will increase from 10.4 cents per kilowatt hour during the summer months to 16.4 cents per kWh for the next six months beginning in October.
The new rate means an average customer’s bill will increase by about $31 per month, or 23% compared to the summer months. This year’s winter rate is slightly lower than last year’s, when it was 17.7 cents per kWh, equaling about $8 in savings each month.
At the same time, state regulators also approved a plan to provide some relief to residential customers. Rhode Island Energy will refund about $27 million it overcharged customers last winter. The money will be returned in the form of credits that will help offset monthly bills.