National Grid could cut RI prices by 8 percent

PROVIDENCE, R.I. (AP) —  National Grid is proposing to cut natural gas heating bills by 8 percent beginning in November.

The Providence Journal reports the utility is seeking approval from the state Public Utilities Commission to cut rates. Spokesman David Graves says National Grid is paying lower prices to its gas suppliers.

He also cited a mid-year adjustment in April when National Grid won permission to raise rates set the previous November to recover from an unusually cold winter.

Graves said when gas prices fell more than projected in the summer, the higher rate brought in more than what the utility needed to recover its increased costs.

Over the past 12 months, a typical homeowner was billed $1,309. If the proposed rate cut is accepted and remains unchanged, that same homeowner would be charged $1,203.

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