Rhode Island PUC issues major electric and gas base-distribution-rate decision
Related topic: Rhode Island Energy / utility regulation / electric and gas distribution rates
The Rhode Island Public Utilities Commission issued its decision in Rhode Island Energy's first base-distribution-rate case since 2018, approving a one-year rate increase while rejecting several portions of the company's proposal.
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Record Context
The Commission kept Rhode Island Energy's allowed return on equity at 9.275% rather than the company's proposed 10.75%, reduced the approved equity ratio, rejected a multi-year rate plan, and imposed additional planning and tariff requirements.
The decision also conditionally approved acquisition-related customer credits that the company accepted under the Commission's calculation, resulting in approximately $170 million in bill credits. The Record preserves the Commission's regulatory decision and its effect on the company's rate framework; claims by the company, Attorney General, consumer advocates or other parties about affordability, profitability, climate policy or fairness remain attributable to those participants.