Scorning a Chance for Improvement

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    You have wishful thinking! Why in the world would any company from out of state want to relocate to Rhode Island when Deepwater Wind Block
    Island windfarm and National Grid are driving up electric rates and subsequently municipal and state taxes plus all local business prices?

    WPRI TV Channel 12 published a National Grid contracted analytical
    report that showed an estimated cost for each RI city and town plus State of RI “EXTRA” first year cost in electricity due to the Governor Donald Carcieri (R), RI General Assembly (D) law changes forcing the RI PUC to approve the 20 year Power Purchase Agreement rate of 24.4 cents/kWh, with an escalator clause that would increase this price by 3.5 percent annually over the twenty-year contract. This would culminate in a final price of 46.9 cents/kWh, with an average price of 34.5 cents/kWh over the lifetime of the PPA.

    The National Grid analytical report showed total first year cost to RI cities, towns and state governments to be approximately $250,000 which
    means a tax hike which also means all businesses will have to raise prices of goods and services to offset increased costs of doing business in RI. But wait; there is an unheard of 3.5 percent annual compounding COLA in the contract which drives up the cost each year for 20 years cumulating in a staggering end of PPA city, town and state combined cost of nearly over $7,000,000 one year extra electric bill cost to the taxpayers on top of all else government costs. Would the last person leaving RI please turn off the lights.

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