Rhode Island Energy, the new owner of the Narragansett Electric Company, has reached a settlement agreement with the state Attorney General’s Office and the Division of Public Utilities and Carriers over unauthorized billing practices that led to National Grid receiving additional performance incentives. The Public Utilities Commission approved the settlement, which totals over $10 million, with $2 million already credited to an energy efficiency fund where infractions occurred. The investigation revealed that National Grid misfiled invoices for its energy efficiency program, leading to overpayment of incentives due to “invoice stacking” practices.
Rhode Island Energy will pay nearly $8 million into a storm contingency fund as a refund of the incentives National Grid received between 2012 and 2021. The company, in a statement, expressed a commitment to resolving the issue and ensuring the benefit of customers. As per the settlement, annual audits of the energy efficiency program will be conducted over the next five years to prevent similar issues in the future. Attorney General Peter Neronha highlighted the importance of injecting the settlement funds into the Storm Contingency Fund to help with future storm-related costs for ratepayers.
Governor Dan McKee commended the settlement for holding National Grid accountable and implementing measures to prevent similar issues in the future. The agreement not only recovers funds for ratepayers but also ensures accountability and prevention of unauthorized billing practices. The settlement aims to protect consumers in the face of rising energy costs and to uphold the integrity of the state’s energy programs.
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