PROVIDENCE, R.I. (July 23, 2026) - Rhode Island Energy (RIE) is encouraging customers to plan ahead for the winter heating season and take advantage of available bill assistance and energy-saving programs, as new electric supply prices take effect on October 1, pending approval by the Rhode Island Public Utilities Commission (RIPUC).

RIE's "Last Resort Service" (LRS) proposed prices for this winter are higher than last winter's price. LRS prices are market-based electricity supply costs that the company does not set, control, or profit from. This increase reflects increased costs from newly implemented ISO-NE rules designed to address supply constraints and reliability, broader regional energy market conditions and geopolitical uncertainty, and an increase in the state charge for renewable energy supply.

The proposed supply price of 17.03 cents/kWh compares to last winter's price of 14.77 cents per kilowatt-hour(kWh). A typical residential customer using 500 kWh per month can expect their monthly bill to increase by approximately $12 as compared to last winter.

Summary of changes

• Pending approval, the new LRS price will be 17.03 cents/kWh - representing a 15% increase over last winter
• Last winter's LRS price was 14.77 cents/kWh
• The current summer LRS price, effective April-September, is 11.09 cents/kWh

"We understand that higher energy costs can create real challenges for our customers, especially during the winter months when energy use is at its highest," said Greg Cornett, President of RIE. "While these supply costs are driven by market conditions outside of our control and are passed through to customers without markup or profit, our focus is on supporting our customers. We encourage everyone to explore the many programs and resources available to help manage energy bills and reduce usage this winter."

What is driving increased supply costs?

Winter LRS prices are increasing primarily because the cost of supplying electricity has risen across several areas of the New England energy market. The largest driver is a significant increase in administrative costs from a new ISO New England rule designed to support electric grid reliability and ensure enough resources are available during periods of high demand and system stress.

In addition, wholesale energy prices have increased due to ongoing pressures in global energy markets, including higher natural gas costs and geopolitical uncertainty, with those impacts amplified in New England by constrained natural gas supply infrastructure. Renewable energy compliance costs have also risen as state requirements for renewable energy continue to increase. These factors have all contributed to higher supply costs for the upcoming winter period.

How RIE purchases electric supply

RIE purchases LRS supply through a series of auctions held over time rather than at a single point in the market. This "laddered and layered" approach helps reduce the impact of market volatility by spreading purchases across multiple periods, providing customers with more stable and predictable prices while avoiding full exposure to short-term market spikes.

Additionally, RIE delivers electricity to customers across the state but, pursuant to state law, does not own or operate electricity generation facilities. For customers who do not choose a competitive supplier or participate in a municipal aggregation program, the company purchases electricity on their behalf and passes it through with no markup and no profit. LRS supply prices are updated twice a year - in April and October - and reflect wholesale market conditions.

RIE serves approximately 42% of the state's electric demand through LRS, with the remaining electric supply delivered via third-party suppliers or municipal aggregation programs. The cost drivers experienced by Rhode Island Energy are likely to affect third-party supply costs over time, too. This is because all of the electric supply serving Ocean State customers is procured from the same regional wholesale markets and subject to similar state renewable mandates.

Customer resources and support

To help customers manage rising winter energy costs, RIE offers a range of programs and services:

RIE has also doubled its contribution to the Good Neighbor Energy Fund this year to help support customers in need and has launched a new employee-funded assistance program called Operation Help to provide bill assistance to the most vulnerable customers. In addition, the company proposed and reached an agreement with regulators and stakeholders for enhancements to the Low-Income Discount Rate program that will provide significant additional bill relief for eligible customers starting this upcoming winter.

"We are committed to connecting customers with the right support that meets their needs," Cornett added. "We have resources available today to help customers get prepared to manage their energy costs throughout the winter season."

For more information on these programs and for additional bill help resources, please visit rienergy.com/toolkit.

About Rhode Island Energy

Rhode Island Energy provides essential energy services to over 770,000 customers across Rhode Island through the delivery of electricity and natural gas. Our team of more than 1,300 employees is dedicated to helping Rhode Island customers and communities thrive, while supporting the transition to a cleaner energy future. Rhode Island Energy is part of the PPL Corporation (NYSE: PPL) family of companies addressing energy challenges head-on by building smarter, more resilient, and more dynamic power grids and advancing sustainable energy solutions.

For more information visit www.RIEnergy.com and stay connected on Instagram, LinkedIn, Facebook, and X.