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RI Lt-Gov Faults "Outdated" Nat’l Grid SOS Procurement Design, Also Pans Shopping Rate Recalculation
January 14,2015 In an op-ed in the Providence Journal, Rhode Island Lieutenant Governor Daniel McKee faulted National Grid for having an "outdated" procurement process for Standard Offer electric service, which prevented National Grid from managing risk premiums which led to sharp increases in SOS rates (partially mitigated by the PUC). McKee noted, "other utilities," have, "done a better job of protecting customers from price volatility." McKee citied the quasi-municipal Pascoag Utility District, which presumably relies on a managed portfolio for supply. McKee also said that the General Assembly need to focus on, "laws that better protect consumers," and the PUC needs to focus on, "establishing better procurement procedures." While McKee's default service views may be concerning to retail suppliers, McKee supported greater shopping among customers, and faulted the rate recalculation and adjustment applicable to customers leaving SOS for competitive supply as a hindrance to customers' exercising their ability to save money through shopping. McKee also suggested that the state launch an energy shopping website similar to PA Power Switch, so customers can, "see whether there's money to be saved that could be pumped into our economy rather than energy traders' pockets." See the Providence Journal for the full op-ed
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