Lt. Governor McKee Calls for Rollback of National Grid Rate Increases

PROVIDENCE, RI – Lt. Governor Dan McKee is calling on the Rhode Island Public
Utilities Commission (PUC) to recalculate National Grid’s existing and proposed
electricity rates to reflect the reduction of the federal corporate tax from 35 to
21 percent.

Earlier this month, Massachusetts’ primary electricity supplier, Eversource, agreed
to pass on approximately $31 million in savings from the new federal tax legislation
to its customers following a formal Motioned filed with the Division of Public
Utilities by the state’s Attorney General.

In a letter sent this afternoon, Lt. Governor McKee urged the PUC to reevaluate
National Grid’s most recent request for a 6% electric rate increase and reopen the
dockets for all recently approved National Grid rate increases. In the letter, McKee
notes that unless the PUC adjusts rates to properly reflect the tax reduction,
ratepayers will be substantially overpaying while National Grid receives an
unreasonable windfall.

«Our neighbors in Massachusetts will be getting a break on their monthly electricity
bills. It’s time for Rhode Island to ask National Grid to use its corporate savings
to lower rates in our state and provide much needed relief for local families and
small businesses,» said McKee. «This is an opportunity for ratepayer relief that we
cannot afford to miss.»

McKee has a record of advocating for Rhode Island ratepayers that includes
eliminating National Grid’s «billing adjustment» that left thousands of customers
with unexpected charges on their bills after they switched to competitive
electricity suppliers. The Lt. Governor also proposed a Ratepayer Protection
Legislative Package last year that would increase competition in the electric market
and lower costs. Earlier this week, McKee announced new legislation that will hold
utility companies to a higher standard for emergency preparedness and response.