PROVIDENCE, RI – Today, Lt. Governor Dan McKee made the following statement about National Grid's intention to increase electric rates by 19-percent:
"Another rate increase is unacceptable. It is unacceptable for hardworking Rhode Island families, our small business community and our state's seniors and most vulnerable.
I am calling on National Grid to use millions of dollars in tax windfall from the reduction in the federal corporate tax to lower the standard offer and give Rhode Island electric consumers the rate relief they deserve.
Since January, I have been demanding that National Grid use its tax windfall to lower energy costs. Due in part to the efforts of my office, Grid reduced proposed electric rates by $26 million, but the company has failed to promptly return millions of additional tax windfall dollars to consumers. The Grid began receiving tax relief on January 1. The rate relief the Grid provides Rhode Islanders should be retroactive January 1. So far, this has not been the case. National Grid has an opportunity to do the right thing and I urge them to take it."
Lt. Governor McKee will intervene in Public Utilities Commission Docket 4808 to advocate for the return of millions of additional dollars in tax windfall from National Grid to Rhode Island consumers.