Attorney General Peter F. Neronha today announced the filing of his position paper and supporting expert testimony with the Public Utilities Commission (PUC) arguing that Rhode Island Energy’s proposed bill credits severely undervalue the amount owed to Rhode Island ratepayers.
“If Rhode Island Energy wants to front load some of the hundreds of millions of dollars secured for Rhode Island ratepayers at the time of the sale, that’s fine by me, but they better be coughing up every last penny that they owe,” said Attorney General Neronha. “Immediate relief for skyrocketing and unstable energy costs is desperately needed. However, the discount rate that Rhode Island Energy used to calculate how much they owe ratepayers shortchanges Rhode Islanders by tens of millions. Rhode Island Energy needs to keep up their end of the bargain and provide the full value they owe to ratepayers, many of whom are struggling to make ends meet. Look past the smoke and mirrors and what you’ll see is a company placing profits over people, and we want Rhode Islanders to get the full relief they deserve.”