money Rhode Island Energy is issuing $64 credits on energy bills. Here's why
Gas and electric customers of Rhode Island Energy should soon see one-time credits of about $64 on their bills.
Rhode Island Energy announced Monday that it has started provided the credits, totaling $50 million, to each of its customers. The credits are being provided as part of an agreement last spring with the office of Attorney General Peter F. Neronha. The agreement helped clear the way for Pennsylvania-based PPL to purchase the Narragansett Electric Company, which it renamed Rhode Island Energy.
More:State regulators approve new gas rates, try to soften impact with bill credits
Rhode Island Energy says it has also provided more than $43 million in debt forgiveness over the last six weeks to more than 24,000 income-eligible customers.
Rhode Island Energy says it began processing a $63.92 credit on customers’ electric bills and a$64.44 credit on customers’ gas bills issued after November 4, 2022. Customers who receive both electricity and gas from Rhode Island Energy will receive both credits.
More:Amid protests, winter electric rate hike OK'd – but some will pay less than last year
To confirm the credit has been applied, customers can review the “other charges/adjustments” portion of their bill, typically located on page 2, Rhode Island Energy says. The credit is being applied to all accounts that were active on Nov. 1.
The credits come at a time when residents are facing increased energy costs this winter.
Dave Bonenberger, president of Rhode Island Energy, acknowledged the credits "won’t alleviate all the challenges our customers are facing," but he said, "we are hopeful these funds can help lessen the impact of higher supply prices.”
This article originally appeared on The Providence Journal: Why Rhode Island Energy is sending $64 credits on electric and gas bills
