NEWPORT COMMUNITY ELECTRICITY ANNOUNCES WINTER RATES

Thursday, October 10, 2024

Savings Expected Over Rhode Island Energy Prices
  
NEWPORT, R.I. (THURSDAY, OCTOBER 10, 2024) –The Newport Community Electricity program is announcing new Winter electricity supply prices to go into effect beginning with the November 2024 meter read. Prices will still remain lower than the utility’s Residential Last Resort Service rate for the default electricity option. The new prices will be fixed for six months through customers’ May 2024 meter read. Current participants do not need to take any action to remain in the program and receive the new pricing for the product in which they are currently enrolled.

Most participants in Newport’s program use “Newport Standard” which provides more renewable energy than RI Energy’s Last Resort Service and will still provide cost savings this Winter. The additional renewable energy is sourced entirely from local Rhode Island projects, including the Narragansett Bay Commission wind turbines at Fields Point in Providence, solar in West Greenwich and additional wind turbines in Coventry.

The table below shows the prices for Residential customers compared to RI Energy. Prices for Commercial and Industrial customers can be found on the Program website: NewportCommunityElectricity.com.

	Rhode Island Energy Last Resort Service (if you opt out)	Newport Basic	Newport Standard (Community Default)	Newport 50	Newport 100
Residential Price	16.387 ¢/kWh	16.044 ¢/kWh	16.287 ¢/kWh	16.899 ¢/kWh	19.327 ¢/kWh
Voluntary Renewable Energy	No additional renewable energy	No additional renewable energy	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	Oct. 1, 2024 through Mar. 31, 2025	November 2024 through May 2025 Meter Reads	November 2024 through May 2025 Meter Reads	November 2024 through May 2025 Meter Reads	November 2024 through May 2025 Meter Reads
The Last Resort Service Rate above reflects the total rate as filed by Rhode Island Energy in dockets PUC 24-31-EL, and the rate has not yet been approved by the PUC as of October 1, 2024. The Newport Community Electricity Program cannot guarantee savings compared to Rhode Island Energy Last Resort Service for the duration of the Program pricing because future Last Resort Service prices are unknown.

 
Newport is part of a group of seven municipalities who shared in launching the first municipal aggregation programs in Rhode Island. Barrington, Central Falls, Narragansett, Newport, Portsmouth, Providence, and South Kingstown are all working with Good Energy as their consultant and share a common electricity supplier and pricing.

The voluntary renewable energy content in the program’s standard and optional products comes from projects that qualify as RI New and makes a sizable impact on the City’s carbon footprint. The program annually purchases over 5000 MWh of renewable energy on behalf of program participants. This equates to a reduction of over 4,000,000 pounds of carbon dioxide emissions.

The vast majority of the City’s residential and commercial electricity participate in the program, and collectively participants saved more than $542,000 from May 2023 through August 2024, while supporting new, renewable energy facilities here in Rhode Island.

This is a City-operated program open to all Newport residents and businesses.

To join, complete the enrollment form on the program website: NewportCommunityElectricity.com or call the program’s supplier, NextEra Energy Services Rhode Island, at (877) 323-3049. Participants may leave the program at any time without fees or penalties. Visit the program website to review all program options available and to submit any questions via the program contact form: NewportCommunityElectricity.com.