Rhode Island Energy files lower winter electric supply costs for customers

Providence, RI (July 18, 2024) - Rhode Island Energy (RIE) electric supply customers can expect lower costs for the upcoming winter season beginning October 1 as compared to last winter. The Providence-based energy company has filed winter electric supply rates with the Rhode Island Public Utilities Commission (PUC) and, if those rates are approved, an average residential customer using 500 kWh of electricity will see an approximately $8 savings on their total bill per month compared to last winter, depending on their individual energy usage.

"We recognize that high winter energy costs are a challenge for many of our customers, and our team has successfully secured lower prices than we have seen over the last two winters so we can pass those savings on to customers," said Rhode Island Energy President Greg Cornett. "We work every day to provide our customers with reliable, affordable and sustainable energy, and we encourage all customers to explore the many ways we offer to help them save energy and money - including our payment plans, assistance programs and variety of energy efficiency solutions."

RIE's "Last Resort Service" (LRS) rates apply to those customers who choose not to shop for their electric supply or are not part of a municipal aggregation program. These LRS rates are a direct pass-through - meaning the company charges customers only what they pay for the electric supply. This coming winter, the proposed rate is 16.387 cents/kWh - a nearly 8% decrease compared with last winter's rate of 17.741 cents/kWh. The winter electric season for Rhode Island Energy electric customers is from October 1 to March 31 and as is typically the case, the winter electric season rates are higher than those seen in the summer due to a number of market conditions.

It's important to note that the upcoming rate changes announced today are not related to the company's upcoming customer service changes, including a new website and new bill design. The costs associated with those upcoming customer experience changes will not be passed on to customers.

RIE offers a variety of payment assistance options to support customers who may be struggling with their bills. The energy company offers Budget Billing, which may allow some customers to better manage expenses by dividing energy costs into fixed monthly payments, avoiding seasonal spikes. To learn more about the available programs to help customers lower monthly bills, reduce past due balances, or enroll in extended payment plans, visit the assistance page of RIE's website.

RIE is also reminding all its customers about steps they can take to help reduce their energy consumption, costs and their impact on the environment. Customers can sign up now for a no-cost, no-obligation home energy audit for personalized recommendations for energy-saving products for their home. Income-eligible customers may also qualify for additional money and energy-saving offers. Customers can also take advantage of a variety of other energy efficiency options and tips to save money and energy during the upcoming winter months.

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About Rhode Island Energy

Rhode Island Energy provides essential energy services to over 770,000 customers across Rhode Island through the delivery of electricity or natural gas. Our team of more than 1,300 employees is dedicated to helping Rhode Island customers and communities thrive, while supporting the transition to a cleaner energy future. Rhode Island Energy is part of the PPL Corporation (NYSE: PPL) family of companies addressing energy challenges head-on by building smarter, more resilient, and more dynamic power grids and advancing sustainable energy solutions. For more information visit www.RIEnergy.com and stay connected on Twitter, Facebook, and Instagram.