National Grid gets PUC approval for lower rates

By PBN Staff

PROVIDENCE – The Rhode Island Public Utilities Commission has approved lower rates for National Grid natural gas customers.

The lower rates – an average 8.2 percent cut annually - come mostly as a result of lower commodity costs, but also because National Grid is lowering “some of the charges related to the operation of the distribution system,” the utility said Thursday.

“This is more good news for our local customers and it’s right on time for the winter heating season,” said Timothy F. Horan, president of National Grid in Rhode Island. “It’s the second significant natural gas rate reduction for the community in as many years.” Last year the company reduced natural gas rates by 9.3 percent.

The typical residential natural gas heating customer in Rhode Island using 922 therms of natural gas annually will see their bill reduced to $1,265 from $1,379, and will take effect Nov. 1.