Legislation urging the Public Utilities Commission to force National Grid to rollback a recent rate increase is likely to be introduced into the Rhode Island General Assembly within the next few weeks, Lt. Gov. Dan McKee said today.

McKee has been leading an effort to roll back the recent National Grid rate increase and curtails a planned future increase, in the aftermath of a corporate tax rate reduction. McKee said the tax reduction will save the company more than $10 million a year.

National Grid, at the request of the PUC, is reducing its request for a September rate increase. McKee said he is not satisfied with a future rate hike reduction because the company will benefit from the tax decrease immediately. The September rate increase is subject to hearings before the PUC.

McKee began urging the PUC to review the rate increase requests after Congress approved a substantial corporate tax rate reduction, from 35 percent to 21 percent.

The company said it is lowering its proposed September distribution rate hike of 6 percent for electricity and 5 percent for gas by more than $25 million.  National Grid had initially requested an increase of more than $71 million that has now been reduced to $45 million.

In August, National Grid received approval to raise winter electricity rates from 6.3 cents per kilowatt-hour to 9.5 cents, an average increase of $17 per month. Neither the PUC nor National Grid have suggested any rollback in that increase.

In Massachusetts, McKee said, Eversource electricity customers are receiving immediate relief.

Within the first few days of January, Eversource announced it was rolling back a $37 million rate increase that was approved by regulators for customers in eastern and western Massachusetts. According to an article in the Boston Globe, the rate decrease will result in almost $56 million savings to the company’s 1.4 million Massachusetts customers.

“If taxes are reduced ultimately, costs are reduced and that benefits our customers,” Craig Hallstrom, Eversource’s president of Massachusetts electric operations, said in a statement that was published in the Globe.

Ryan Belmore is the Publisher of What'sUpNewp. 
Belmore has been involved with What’sUpNewp since shortly after its launch in 2012, proudly leading it to be named Best Local News Blog in Rhode Island by Rhode Island Monthly readers in 2018, 2019, and 2020 and an honorable mention in the Common Good Awards in 2021.

Born and raised in Rhode Island, Belmore graduated from Coventry High School and the Community College of Rhode Island. In addition to living in Newport for 10 years, he has lived in Portsmouth, Coventry, Providence, Smithfield, Burrillville, and East Greenwich.

Belmore currently serves as Vice President of the Board Of Directors for Fort Adams Trust and on the Board of Directors for Potter League For Animals. He previously served on the Board of Lucy's Hearth and the Arts & Cultural Alliance for Newport County.

Belmore and his wife, Jen, currently live in Alexandria, Virginia, a move they made in 2021. Read more about that here - https://whatsupnewp.com/2021/09/letter-from-the-publisher-some-personal-news/

Belmore visits Newport every couple of weeks to support the 12+ paid contributors What'sUpNewp has on the ground across Rhode Island, a place he called home for 39 years.

Belmore is a member of Local Independent Online News (LION) Publishers, Society of Professional Journalists, and the North American Snowsports Journalists Association.

In 2020, Belmore was named Member of the Year by LION and won the Arts & Cultural Alliance of Newport County's Dominque Award.
Belmore can be contacted at ryan@whatsupnewp.com and 401-662-1653.