Rhode Island regulators have approved a electricity rate hike for customers, but have also implemented some financial relief measures to help offset the impact during the winter months. The rate hike, which was approved by the state’s Public Utilities Commission, will see residential customers pay an average of $7.77 more per month on their electricity bills. However, commercial and industrial customers will see larger increases, with some paying up to $188 more per month.
To help mitigate the impact of the rate hike, regulators have also implemented several measures to provide financial relief to customers. This includes extending the moratorium on shut-offs for residential customers through the winter months, as well as offering payment plans and financial assistance programs for those struggling to pay their bills. Additionally, regulators have capped the rate increase for customers who receive low-income energy assistance at 25%, in order to prevent these vulnerable customers from being disproportionately affected.
The rate hike and financial relief measures come at a time when many Rhode Island residents are already facing economic challenges due to the ongoing COVID-19 pandemic. The decision to increase rates was made in order to offset rising costs for utilities and to ensure the stability of the state’s energy grid. However, regulators have recognized that this increase may place a burden on some customers, which is why they have implemented these relief measures to help lessen the impact.
Overall, while customers may see an increase in their electricity bills in the coming months, the financial relief measures put in place by regulators are intended to provide some assistance during the winter season. Residents are encouraged to explore their options for assistance and payment plans if they are experiencing financial difficulties.
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