2018 -- S 2318

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LC004485

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2018

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S E N A T E   R E S O L U T I O N

RESPECTFULLY REQUESTING THE RHODE ISLAND PUBLIC UTILITIES COMMISSION

TO REEXAMINE ALL RECENTLY APPROVED UTILITY RATE INCREASES FROM

WHICH INVESTOR-OWNED ELECTRIC DISTRIBUTION OR NATURAL GAS

DISTRIBUTION COMPANIES WILL REALIZE TAX SAVINGS THIS YEAR THAT ARE

NOT REFLECTED IN CURRENT RATES

     

     Introduced By: Senators Conley, Gallo, Seveney, Satchell, and Goldin

     Date Introduced: February 15, 2018

     Referred To: Recommended for Immediate Consideration

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     WHEREAS, Rhode Islanders face some of the highest energy costs in the country. For

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local small businesses, high energy costs can stifle expansion and innovation, and serve as an

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obstacle to a thriving business climate. For hardworking families, high electric bills can stretch

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hard-earned dollars to the limit. Therefore, it is vital that the State of Rhode Island vigorously

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pursue every opportunity to lower energy costs; and

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     WHEREAS, The United States Congress passed a reduction of the federal corporate tax

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from 35 to 21 percent on December 20, 2017. This reduction results in significant windfall for

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utility companies across the country; and

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     WHEREAS, Rhode Island’s investor-owned electric distribution or natural gas

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distribution company has agreed to use a portion of its tax windfall to lower proposed rate

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increases that would be effective September 1, 2018. This concession is a step in the right

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direction, but will not provide Rhode Island ratepayers with any rate relief until September 1,

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2018. Unless current rates are recalculated, the investor-owned electric distribution or natural gas

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distribution company will benefit from corporate tax savings from January 1, 2018 to September

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1, 2018, while Rhode Islanders continue to pay an inflated and inaccurate price for their energy;

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now, therefore be it

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     RESOLVED, That this Senate of the State of Rhode Island and Providence Plantations

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hereby joins the Lieutenant Governor in respectfully requesting the Rhode Island Public Utilities

 

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Commission to provide immediate rate relief to Rhode Islanders by reopening the Dockets for all

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recently approved electric and gas rate increases from which the investor-owned electric

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distribution or natural gas distribution company will realize tax savings this year that are not

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currently reflected in the rate structure previously approved by the PUC, or, in the alternative,

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open a new Docket to consider this matter; and be it further

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

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transmit duly certified copies of this resolution to Gina M. Raimondo, Governor of the State of

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Rhode Island, Margaret Ellen Curran, Chairperson of the Rhode Island Public Utilities

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Commission, and Macky McCleary, Director of the Division of Public Utilities & Carriers.

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LC004485

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