2018 -- H 7345

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LC004197

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2018

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H O U S E   R E S O L U T I O N

RECOGNIZING NATIONAL GRID FOR COMMITTING FEDERAL TAX SAVINGS

TOWARDS A REDUCTION IN THE INCREASE FACING RHODE ISLAND RATEPAYERS

     Introduced By: Representatives McLaughlin, McNamara, Shekarchi, Azzinaro, and
O'Brien

     Date Introduced: January 31, 2018

     Referred To: House Finance

     WHEREAS, Many Rhode Islanders are living beneath the federal poverty level,

struggling to fund basic necessities, and oftentimes having to make the choice between heating

and other essential items such as medicine and healthy food; and

     WHEREAS, Beginning on September 1st of 2018, National Grid was expected to increase

Rhode Islander ratepayers' gas and electric bills by around $71 million, resultantly putting many

of our state's most vulnerable populations, such as children and elderly, at greater risk; and

     WHEREAS, Due to a new federal tax law, which slashed the federal corporate tax rate,

National Grid realized unexpected savings; and

     WHEREAS, In light of these savings, the Rhode Island Public Utilities Commission

asked the company to pass on these savings to the state's ratepayers; and

     WHEREAS, In January of 2018, National Grid announced it would reduce its proposed

rate hike for Rhode Islanders by more than $25 million; now, therefore be it

     RESOLVED, That this House of Representatives of the State of Rhode Island and

Providence Plantations hereby recognizes National Grid for committing federal tax savings

towards a reduction in the increase facing the state's ratepayers and urges it to continue to utilize

all measures to pass savings on to consumers. We moreover encourage all public and quasi-public

corporations to follow this example; and be it further

     RESOLVED, That the Secretary of State be and hereby is authorized and directed to

transmit duly certified copies of this resolution to Tim Horan, National Grid President and CEO,

and Margaret Curran, Chairperson of the Rhode Island Public Utilities Commission.

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LC004197

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