PROVIDENCE, R.I. (WPRI) — Rhode Island Energy has proposed a winter rate hike that would raise electricity customers' bills 23% on average beginning in October, according to regulatory filings.

Rhode Island Energy, the state's largest utility company, has proposed new winter electricity rates with the R.I. Public Utilities Commission. If approved, electricity rates for residents would jump from 10.4 cents per kilowatt hour to 16.4 cents per kilowatt hour from October through March.

The rate hike would translate into an average customer's bill increasing an estimated $31.30 per month, or 23% compared to the summer months, according to estimates Rhode Island Energy submitted to the PUC.

Despite the nearly 60% rate increase, company officials are still touting the winter rates, arguing they would be lower than the 17.7 cents per kilowatt hour rate customers paid last winter. The average savings compared to last year would be about $8 per month, according to the company.

For commercial customers, the fixed rate for winter months would cost 15.9 cents per kilowatt hour. The industrial rate — which fluctuates monthly — would begin at 9.4 cents per kilowatt hour in October before rising to about 12.6 cents per kilowatt hour by December.

Historically, winter electricity rates began skyrocketing each year in 2022, increasing from about 10 cents per kilowatt hour each year to a whopping 17 cents per kilowatt hour. And not much has changed since, with winter rates remaining above 16 cents per kilowatt ever since.

Rhode Island Energy officials said winter rates are typically higher than summer rates due to "a number of market conditions."

"We recognize that high winter energy costs are a challenge for many of our customers, and our
team has successfully secured lower prices than we have seen over the last two winters so we can pass those savings on to customers," President Greg Cornett said in a press release.

Rhode Island Energy noted that the rate changes are not related to the upcoming redesign of its bills and website, which will require customers who pay online to update their accounts.