WPRO News and the Associated Press
PROVIDENCE, R.I. (AP) – An attorney for Rhode Island’s Public Utilities Commission is warning lawmakers that a price cap on electric rate hikes could actually result in even higher bills for consumers.
Utility regulators approved a controversial 24 percent increase, compared to last January, in December.
One bill introduced this session would prohibit hikes higher than 5.5 percent or the increase in the Consumer Price Index, whichever is greater, without the General Assembly’s approval.
PUC attorney Cynthia Wilson-Frias told lawmakers the balance would grow if the legislature didn’t take action. She says National Grid may be able to take legal action if the increase was denied.
National Grid spokesman David Graves says lawmakers are being irrational and ignoring the market forces at play.
A House committee will consider three more price cap proposals Tuesday.
