The amount of money that Rhode Island residents pay for their electricity varies based not only on how much they consume, but what the electric utility is charging per kilowatt hour (kWh). This dollar per kWh ($/kWh) utility rate varies based on the expenses that the utility must incur to operate. One of their most volatile expenses if fuel. The majority of electricity in Rhode Island comes from natural gas fired power plants.
The following article highlights that rates went up 12.3% at the beginning of this year. This rate increase was due to an increase in the price of natural gas. Because Rhode Island grid electricity comes from the burning of such fossil fuels, our state’s citizens are at the mercy of price changes in these finite resources.