Energy rates rise and fall all the time. It is a fact. However, it normally has more to do with the time of year and weather, rather than a random occurrence.
What makes this story so important is that the proposed rates caused an outcry from certain stakeholders and Lt. Gov. Daniel McKee, who “in a letter said to the PUC that National Grid should be given ‘more flexibility’ in its procurement of SOS, so National Grid can respond more effectively to conditions in the power markets.” Basically people are not happy with these rates. And here’s why…
From a commercial standpoint, the fixed rate price option has raised by 52% compared with the current fixed price option. If you are in a contract currently in RI, you’re rate won’t change. However, if you re-pricing or renewing, then this may be an issue for you.
Rates going up that much in just a short period is a lot for some folks.
Original story posted here.