Ratepayers to pay less thanks to utility’s tax windfall

Providence
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PROVIDENCE, R.I. (AP) — Rhode Island residents are getting a break on their natural gas and electric bills.

Lt. Gov. Dan McKee announced Wednesday that ratepayers are getting nearly $8 million in relief as part of a settlement that compensates ratepayers for over-collections made by National Grid after Congress passed President Donald Trump’s corporate tax cuts in 2017.

The Democrat said on WPRO-AM that ratepayers should pay about $10 less on their bill for about a year.

“As Lt. Governor, I am committed to representing the interests of Rhode Island ratepayers over the interests of National Grid’s international shareholders,” he said. “I embarked on this effort over a year ago to ensure that corporate savings realized from federal tax cuts would benefit hardworking Rhode Islanders—with persistence, we succeeded,” McKee said.

The deal with National Grid was negotiated with help from McKee’s office.

The reduction begins in July for electricity customers and in November for gas customers.

The state Public Utilities Commission approved the settlement on May 17.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Providence

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