| R 067 |
| 2018 -- S 2318 Enacted 02/15/2018 |
| 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 |
| WHEREAS, Rhode Islanders face some of the highest energy costs in the country. For |
| local small businesses, high energy costs can stifle expansion and innovation, and serve as an |
| obstacle to a thriving business climate. For hardworking families, high electric bills can stretch |
| hard-earned dollars to the limit. Therefore, it is vital that the State of Rhode Island vigorously |
| pursue every opportunity to lower energy costs; and |
| WHEREAS, The United States Congress passed a reduction of the federal corporate tax |
| from 35 to 21 percent on December 20, 2017. This reduction results in significant windfall for |
| utility companies across the country; and |
| WHEREAS, Rhode Island’s investor-owned electric distribution or natural gas |
| distribution company has agreed to use a portion of its tax windfall to lower proposed rate |
| increases that would be effective September 1, 2018. This concession is a step in the right |
| direction, but will not provide Rhode Island ratepayers with any rate relief until September 1, |
| 2018. Unless current rates are recalculated, the investor-owned electric distribution or natural gas |
| distribution company will benefit from corporate tax savings from January 1, 2018 to September |
| 1, 2018, while Rhode Islanders continue to pay an inflated and inaccurate price for their energy; |
| now, therefore be it |
| RESOLVED, That this Senate of the State of Rhode Island and Providence Plantations |
| hereby joins the Lieutenant Governor in respectfully requesting the Rhode Island Public Utilities |
| Commission to provide immediate rate relief to Rhode Islanders by reopening the Dockets for all |
| recently approved electric and gas rate increases from which the investor-owned electric |
| distribution or natural gas distribution company will realize tax savings this year that are not |
| currently reflected in the rate structure previously approved by the PUC, or, in the alternative, |
| open a new Docket to consider this matter; 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 Gina M. Raimondo, Governor of the State of |
| Rhode Island, Margaret Ellen Curran, Chairperson of the Rhode Island Public Utilities |
| Commission, and Macky McCleary, Director of the Division of Public Utilities & Carriers. |
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| LC004485 |
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