Last week, I announced $7.9 million in additional utility rate relief for Rhode Island gas and electric customers. The agreement that my office helped negotiate compensates ratepayers for over-collections made by National Grid after Congress reduced the federal corporate tax rate from 35% to 21%.
The agreement is the result of a multi-year collaborative effort that, when all said and done, will provide roughly $33 million in utility rate relief to local families and businesses.
I thank Governor Raimondo, Representative Brian Kennedy and Senator William Conley, Jr. for supporting our efforts to return millions of dollars to local ratepayers.
Check out the full details.