Monday, February 27, 2023
The City of Providence today announces it is one of several Rhode Island communities that will launch its electricity aggregation program in May 2023. The Providence Community Electricity program will offer residents three new, competitively priced electricity options- a 100% renewable energy option, a 50% renewable energy option, and an option with only the minimum amount of renewable energy, with all options competitively priced at market rates.
The table below shows the prices for Residential customers:
|Rhode Island Energy
Last Resort Service
(if you opt out)
|Providence Basic||Providence Standard
|Providence 50||Providence 100|
|Residential Price||9.761 ¢/kWh||9.151 ¢/kWh||9.361 ¢/kWh||10.222 ¢/kWh||12.321 ¢/kWh|
|Voluntary Renewable Energy||None||None||Adds 5% voluntary renewable energy (RI New RECs)||Adds voluntary renewable energy (RI New RECs) to total 50%||Adds voluntary renewable energy (RI New RECs) to total 100%|
|Duration||April to Sept.2023||May to Nov. 2023||May to Nov. 2023||May to Nov. 2023||May to Nov. 2023|
|The Last Resort Service Rate above reflects the rate filed by Rhode Island Energy in RI PUC Commission Docket 23-01-EL on January 19, 2023, and includes components that may be adjusted by Rhode Island Energy. The Program cannot guarantee savings beyond the current term of Last Resort Service, as stated in the table above, because future Last Resort Service rates are unknown|
All Providence residential and business electricity customers currently using Rhode Island Energy’s Last Resort Service will be automatically enrolled in the Providence Community Electricity Program’s standard electricity option as of their May 2023 meter read date. The electricity rates will be fixed over an initial six-month period from May 2023 through November 2023.
Beginning this week, residents will receive a letter notifying residents of the upcoming enrollment, providing instructions on how to choose a different program option other than the standard they are automatically enrolled in, and how to opt-out of the Providence Community Electricity Program if they so choose. Anyone that does not want to participate in Providence Community Electricity may opt out without penalty, either before the Program begins or at any time during the Program.
The Providence Community Electricity program will support Rhode Island renewable energy projects, including sourcing power from wind turbines in Coventry and Providence and solar built on brownfields in Johnston, North Providence, and West Greenwich.
The City is part of a group of seven municipalities leading the way in Rhode Island to launch the state’s first municipal aggregation programs: Barrington, Central Falls, Narragansett, Newport, Portsmouth, South Kingstown. Each community is launching their own distinct program in May 2023, but by combining their buying power to procure a common electricity supplier, Next Era Energy Services, the communities were able to secure an electricity supply with a lower rate and more renewable energy than RI Energy’s supply option.
Residents are encouraged to seek more information about Providence Community Electricity by visiting Electricity.ProvidenceRI.gov or calling the program’s supplier, NextEra Energy Service, at (888) 387-1084.