National Grid Reduces Rate Proposal by Over $25 Million
Friday, January 12, 2018
The announcement comes a few months after National Grid presented Rhode Island Public Utilities Commission with its first proposal since 2012, asking them to adjust their rates.
“Today’s announcement is a key indicator of how this new tax law can provide real benefits to National Grid’s customers. We are committed to ensuring that the tax savings of the legislation are fully realized and are used to help our customers in their energy bills,” said Tim Horan, president and COO of National Grid in Rhode Island.
National Grid’s Proposal
National Grid initially requested an increase of over $71 million to "support operations and new initiatives in National Grid’s gas and electric business."
The new proposal incorporates more than $19 million in tax savings.
When combined with other adjustments made during the recalculation the proposal comes in at approximately $45 million in total.
The adjusted figures estimate a request for $27 million on the electric side and $18 million on the gas side.
"I’m encouraged by National Grid’s response to my request to lower their proposed 6% electric and 5% gas rate increases in light of the federal corporate tax reduction.
This is a step in the right direction but this solution, on its own, will not provide ratepayers with a single penny of relief until September when the Grid’s proposed rate is set to go into effect," said RI Lt. Governor Dan McKee.
Related Slideshow: GoLocal: Benchmark Poll, October 2017
Next year, in November of 2018, there will be a statewide general election for Governor and many other state offices. How likely is it that you will vote in this election?
Will you definitely be voting, will you probably be voting, are you 50-50...
Definitely be voting: 78%
Probably be voting: 13%
What would you say is the number one problem facing Rhode Island that you would like the Governor to address?
Jobs and economy: 21%
State budget: 9%
Corruption/Public integrity: .8%
Don’t know: .9%
Recently, a proposal has been made to permit the issuance of $81 million in bonds by the State to build a new stadium for the Pawtucket Red Sox. If there was an election today on this issue, would you vote to approve or reject issuing $81 million in financing supported moral obligation bonds to build the stadium?
Net: Approve: 28%
Definitely approve: 15%
Probably approve: 14%
Net: Reject: 67%
Probably reject: 19%
Definitely reject: 48%
Don't know: 4%
The next question is about the total income of YOUR HOUSEHOLD for the PAST 12 MONTHS. Please include your income PLUS the income of all members living in your household (including cohabiting partners and armed forces members living at home).
$50,000 or less: 27%
More $50,000 but less than $75,000: 13%
More $75,000 but less than $100,000: 13%
More $100,000 but less than $150,000: 17%
$150,000 or more: 13%
Don't know/refused: 17%
What particular ethnic group or nationality - such as English, French, Italian, Irish, Latino, Jewish, African American, and so forth - do you consider yourself a part of or feel closest to?
Black or African American: 6%
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