PROVIDENCE, RI – Today, Lt. Governor Dan McKee issued the following statement on the reduction of National Grid's proposed rate increase:
"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.
In the letter I sent to the PUC, I also called for a rollback of National Grid's current rates which will impact Rhode Islanders between now and September 1st. During this time, the Grid will enjoy savings from the corporate tax break, yet Rhode Islanders will continue to pay an inflated and inaccurate price for their energy.
I'm calling for immediate relief. The PUC has the ability reopen the Dockets, or create a new Docket, to reexamine all recently approved National Grid rate increases from which the Grid will realize tax savings this year. I encourage the PUC to do so and I look forward to National Grid's response."