National Grid, the company that supplies electricity to Rhode Island, has filed for a rate DECREASE. The current rate for delivered electricity is 19 cents per KWh. Effective January 1, that rate will decrease to 16.1 cents. Perhaps that will remove RI from the dubious distinction of having the highest rate in the country? Of course other states will probably be following in RI's footsteps, so we shall see.
This cut will save the average electrical consumer about $13 per month, and comes despite the fact that RI power suppliers generate very little of their electricity from oil. (Suppliers have a clause that ties the value of their energy to the price of oil and gas. So as oil and gas go up or down, so would the value of solar or wind.)
Finally, the retail cost of gasoline continues to drop, having reached $1.79 per gallon right before Thanksgiving. With crude prices below $45 a barrel (gasoline at $1.05 wholesale), I suspect that gasoline will be at $1.50 or less per gallon by the new year. That said, the New England area is transitioning over from gasoline storage to heating oil, which means the price of gasoline may not drop as low as it will in other parts of the country due to reduced supply in the region.
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