Blackstone Valley Electric, Newport Electric File Proposed Standard Offer Rates.WEST BRIDGEWATER, Mass.--(BUSINESS WIRE)--Nov. 7, 1997--Blackstone Valley Electric Co. (BVE BVE abbr. Black Vernacular English ) and Newport Electric Corp. today filed with the Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. Public Utilities Commission (PUC (Public Utility Commission) A regulatory body in every state in the U.S. that governs public utilities within its jurisdiction such as electricity, gas, oil, sewer, water, transportation and telephone service. Some states call it the Public Service Commission (PSC). ) their proposed rate schedules for standard offer electricity. Standard offer prices will be available to all BVE and Newport Electric customers Jan. 1, 1998, under the accelerated schedule for competition agreed to as part of a restructuring settlement among BVE, Newport Electric, the PUC, the Division of Public Utilities and Carriers, and the state's Attorney Noun 1. state's attorney - a prosecuting attorney for a state state attorney prosecuting attorney, prosecuting officer, prosecutor, public prosecutor - a government official who conducts criminal prosecutions on behalf of the state General. Rhode Island's first-in-the-nation Utility Restructuring Act had called for competition to be phased in, opening to all customers as of July 1, 1998. The Utility Restructuring Act requires utilities to offer electricity at standard offer prices to customers who choose not to choose a new generation supplier when competition starts. "When the electricity market is opened to competition, some customers may wait to choose a new generation supplier until they have a better idea of the potential savings available to them," Power Supply Vice President Kevin Kirby had previously said. "Standard offer service is designed to bridge that time period." Kirby made the statement earlier this week when he announced the deadline for potential suppliers of standard offer electricity to submit their qualifications to bid. Today's filing by BVE and Newport Electric is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent approval by the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. of the Rhode Island settlement agreement. "Our proposed standard offer price varies, depending upon which rate the individual customer is billed at," said Dennis St. Pierre, Vice President-Rates, adding: "These prices were designed to produce the same percentage discount on the generation component of the electric bill for all customers." In their filing, BVE and Newport told the PUC they and their Massachusetts sister utility, Eastern Edison, plan to jointly put their standard offer service out to bid prior to the retail access date, in accordance with the Utility Restructuring Act. BVE provides electric service to about 85,000 customers in northern Rhode Island and Newport Electric, to more than 32,000 customers in south coastal Rhode Island. Both are subsidiaries of Eastern Utilities Associates, a Boston-based diversified diversified (di·verˑ·s energy services company, as is Eastern Edison. Information about EUA EUA Examination under anesthesia, see there is available on the world wide web at <http://www.eua.com> CONTACT: Eastern Utilities Associates Michael J. Hirsh, 508/559-2000 ext. 3101 |
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