National Grid overcharge: Minimal on customer, big profit for company
PROVIDENCE, R.I. (WLNE) — Following a National Grid internal investigation on an overcharge of customers by $2.2 million over an 8- year period, The Rhode Island Public Utilities Commission is now conducting their own investigation.
Todd Bianco, the commission’s chief economic and policy analyst, told ABC 6 News the investigation should be completed in “a matter of months rather than years.”
The overcharge from 2012-2020 only cost customers about $4 to $5 more over an 8 year span.
“While it may not show up as a big impact on an individual customer, when we look at budget wise, 2 million dollars is a significant amount of money,” Bianco said.
However, it resulted in a $2.2 million profit for the company, now named Rhode Island Energy, after the purchase by PPL earlier this year.
Bianco said customers will receive their money back once the investigation is completed.
He said a hearing may be held, but no word on when.