Another electricity rate increase is coming
4:03 PM Wed, Oct 01, 2008 | Permalink
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As part of the resolution of a dispute, National Grid must make payments next year totaling more than $50 million. And under the agreement, ratepayers will pick up the tab. Rhode Island customers could see an increase of 4.2 percent per month. The deal reached between National Grid, a state agency that represents ratepayers, and its biggest electricity supplier, Constellation Energy of Baltimore, calls for National Grid to make payments to Constellation next year that total $50.2 million. And under the agreement, it is the ratepayers who will pay. The Public Utilities Commission, which on Tuesday voted 3-0 to approve the agreement, will decide how to assess customers the $50.2 million. If it decides that all the money should be collected in one year, it would mean a rate increase of $3.95 a month, or 4.2 percent, for a typical customer that uses 500 kilowatt-hours of electricity each month. Electricity rates are already at an all-time high. In July, National Grid increased electricity rates by 21.7 percent. A typical customer now pays $93.44 a month for electricity, according to the company. National Grid said that although customers are facing another rate increase, they are far better off than they would be if the company lost the disputes in court. The company, and therefore its customers, could have been required to pay $300 million or more if Constellation won the pending lawsuits, said Ronald T. Gerwatowski, deputy general counsel for National Grid USA. "The way we came out of this settlement is good news for customers, when you consider the potential liability that was hanging over our heads," he said in an interview this afternoon. 
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and the PUC lets us down again.
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Well Just got my HHO Generator up and running, Cost to run it Water! Sorry folks but your going to have to figure it out on your own. Yes it does break the laws of thermal dynamics and I'm not looking to make money on this, Its not safe to go public anyway.
But I will give you the basics...
High watt propane generator And a HHO fuel cell.
Propane to start the engine, the rest is history.
If you have a IQ of over 120 you should have no problem figuring it out...
Good Luck!
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So glad to hear that another rate increase 3 months after the last one is something we customers should consider good news. Did we customers do something to cause this dispute?...No. Why should we have to pay for executive decisions in which we had no input? These constant rate hikes are ridiculous!
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Here we go again. 3-0 vote, no surprise there. Why do they even go through the process and waste more of our money. My electric bill is $200/month as it is. It is outrageous that we again pay for inept and shotty corporate policies at National Grid. Why should we pay for their mistakes in failing to negogiate closed-end agreements with their business partners.
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The way we came out of this settlement is good news for customers...
This is the quote from the last paragragh of this article.
Whopee!! Good News??!! Hell yes, I'm excited that electricity rates are going up another 4.2%, aren't you? Sounds like great news!!
Anyone have any candles? or have they implimented a tax on them too?
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So who screwed up at National Grid? They are the ones who should be paying - not the consumer.
Dock their pay, take back their stock options.
Once again the consumer takes a hit in the wallet for the misdealings of those who are paid exhorbitant salaries and benefits.
Perhaps it's time to nationalize all the utilities!
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There's a dispute? What dispute? For all we know it could be because Mars didn't intersect Venus at the right moment. As ratepayers, aren't we entitled to an intelligent explanation as to why they are raising the rates again??? Where the hell am I? I think Rhode Islanders should organize a day where we all boycott electricity, even if it's only for an hour!
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Typical of our only supplier - hit us up hard during the summer, and then inch in another blow in time for the holidays. Then I have to listen to tenants complain about higher costs of rent, and loose anything around my own home that uses up to much electricity. $175 a month bill for a 2 bedroom is ridiculous! Where are the wind generated power sources when you need them? Bring in alternate sources.
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Lets just do away with the PUC. For what purpose do they serve other than meeting every forth Tuesday to talk about how tired 7pm meetings are on them.... Lets all save the state some money and fire the bums. They can't do a thing under the current law even if they wanted to. It's a scam.
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Remember too that National Grid wants revenue protection measures put in place. In other words, the more you conserve the more you'll pay.
My father wants to install wind turbines on his property and go completely off-grid. I told him to be careful because if National Grid could ask for revenue protection, who is to say they won't go after those generating their own power?
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Since when did customers have to pay for issues not resolved by CORPORATIONS?????? Just jump in line next to Lehman Broth., AIG and the Rest of these CROOKS. I would love to know who this THREE PERSON PANEL consists of.
This is bull and agin, we need to get off our asses and gets our politicians to do their job. Although this OTHER Bailout is going to happen, we almost won and seems that some elected officials are finally starting to realize that it is infact OUR COUNTRY.
Does anyone know the name of these THREE on this board??? I'll bet they are in bed with National Grid....WHEN IS ENOUGH....ENOUGH.
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If I have this right: NG was sued by Constellation Energy for something and is "saving" money by settling. And then they tell us: "It could have been worse .. FOR YOU. And, ahem, No skin off of our backs/wallets."
"There should be a law..." that incentivizes good behavior and punishes bad. Judgment or settlement, the company (or even just public utilities - and investment banks) pays at least half out of its own pocket. Then our national bailout is $350B and our help to NG is 2%. Hello Pub Util Commission.
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