McKee Reports Progress Being Made in Returning Utility Tax Windfall to Consumers
Friday, March 23, 2018
Lt. Governor Dan McKee is reporting process in his effort to ensure millions of dollars in corporate tax windfall are returned to Rhode Island utility customers as a rate reduction.
According to a letter sent by the Public Utilities Commission (PUC) to National Grid on March 12, the PUC is directing National Grid to create a plan to revise current utility rates to reflect the reduction in the federal corporate tax from 35 to 21 percent retroactive to January 1, 2018.
“I am glad to see we are finally standing up for Rhode Island consumers rather than protecting the interests of international corporate shareholders. This money belongs in the pockets of hardworking Rhode Islanders and I will continue to work until it gets there,” said McKee.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTMcKee will review National Grid’s rate reduction plan.
Calling for Rate Reduction
McKee first called on the PUC to order a recalculation of National Grid's current and proposed rates in a letter sent on January 5.
After National Grid agreed to reduce only its proposed rates, McKee continued to press the issue with the support of Senator William J. Conley Jr., Representative Kenneth A. Marshall, and Representative Brian P. Kennedy.
Conley, Marshall, and Kennedy introduced resolutions calling on the PUC to re-examine current utility rates retroactive to January 1.
Resolution 31 was passed by the House on January 23 and Resolution 67 was passed by the Senate on February 15. The resolutions were then sent to the PUC and the Governor’s Office.
At a public hearing last week, McKee McKee, Conley and Marshall urged the PUC to lower current utility rates and provide immediate relief to customers.
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