The Rhode Island Public Utilities Commission approved more than $170 million in bill credits for Rhode Island Energy customers. The money stems from commitments made when PPL acquired Narragansett Electric from National Grid in 2022. Instead of returning the benefit gradually over many years, the credits are being accelerated.

For customers, the current schedule is:

• Electric customers: monthly credits October 2026 through September 2027.
• Gas customers: monthly credits November 2026 through April 2027.
• Residential, commercial and industrial customers are included.
• The PUC says the electric credits over the 12-month period should more than offset the distribution-rate increase it approved.
• Gas customers will also receive a significant offset, although part of the available amount will cover approximately $11 million in a previous gas under-collection.

There’s also separate winter assistance coming. The state has directed another $28 million in energy assistance, expected to equal roughly $61 for the average residential customer during the peak winter period.

One important caveat: the PUC’s final compliance process is still being completed. Rhode Island Energy was required to file updated calculations, with final approval scheduled for August 31, so the exact dollar amount customers will see each month isn’t final yet.

For your rentals where utilities are included with an electric or heating cap, this is worth watching. Once the final credit amounts are published, I can calculate how much the credits are likely to reduce an owner’s winter utility costs and whether your typical $120 electric cap, for example, should be adjusted.