Newport Community Energy Summer Prices Announced

Thursday, March 28, 2024

Savings Expected For NCE Program Participants
 
NEWPORT, R.I. (MARCH 28, 2024) – Newport households and businesses enrolled in the City’s Newport Community Electricity program can expect to see a decrease in their electric rates this spring.

Residential customers enrolled in the City’s default community plan can expect electric rates of 10.291 cents/kWh, which is below those being offered by Rhode Island Energy’s Last Resort Service of 10.377 cents/kWh. The new prices are fixed for six months and will go into effect in May 2024.

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.

	Newport Standard Default	Newport Basic	Newport 50	Newport 100	RI Energy Last Resort Service*^
Residential	10.291 ¢/kWh	10.048 ¢/kWh	11.116 ¢/kWh	13.545 ¢/kWh	10.377 ¢/kWh
Small Business	9.685 ¢/kWh	9.442 ¢/kWh	10.509 ¢/kWh	12.932 ¢/kWh	9.864 ¢/kWh
Industrial	8.720 ¢/kWh	8.487 ¢/kWh	9.513 ¢/kWh	11.846 ¢/kWh	8.038 ¢/kWh
Voluntary Renewable Energy	5% voluntary RI New Renewables	No additional renewable energy	Adds voluntary renewable energy(RI New RECs) to total 50%	Adds voluntary renewable energy(RI New RECs) to total 100%	No additional renewable energy
Term	May through Nov. 2024 Meter Reads				Apr. 1 - Sept. 30, 2024

 
 
*The Last Resort Service Rates above reflect the rates approved on Friday January 19, 2024. The Program cannot guarantee savings beyond the current term of Last Resort Service, as stated in the table above, because future Last Resort Service rates are unknown.
^RI Energy prices shown are the full Last Resort Service cost. In some press materials, RI Energy reports its "base" cost of 8.908¢/kWh, which is only a part of the Last Resort Service cost.
 
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.

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 our supplier, NextEra Energy Services Rhode Island, at (888) 387-1084.

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