Rhode Island Energy’s summer electricity rates have been approved by state regulators, and they will be slightly more expensive for residential ratepayers compared to most of the plans offered through Providence’s new municipal electricity program. Rhode Island Energy’s default rate is roughly 10.3 cents per kilowatt hour, which is significantly cheaper than the 17.8 cents charged during the previous six-month period, yet 32% more than the 7.8 cents charged last summer. However, rates often go down in the summer compared to winter. Rhode Island Energy’s default rate is more expensive than three of the four plans offered through the Providence Community Electricity program: Providence Basic plan (9.1 cents per kilowatt hour plus no renewable energy); Providence Standard (9.3 cents per kilowatt hour including 5% renewable energy); and Providence 50 (10.2 cents per kilowatt hour including 50% renewables). The fourth plan, Providence 100, will cost 12.3 cents per kilowatt hour, which surpasses Rhode Island Energy’s default rate. The Rhode Island Energy rates begin in April and end in September, while the Providence plans span from May through November. Residential customers can decide to opt-in or opt-out of both plans at any point, and the math for both will likely shift when the rates are adjusted again for next year’s winter months. Rhode Island Energy’s commercial summer-month rates cost 10 cents per kilowatt hour, and the industrial rate starts at 13.1 cents per kilowatt hour, which is variable and gets reset every three months. More details regarding commercial and industrial rates provided by the Providence plans can be found here.

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